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SEC custody rules rewrite for crypto enters White House review
The SEC’s 2026 regulatory agenda says the proposal would clarify how advisers and investment companies can custody crypto assets under current Commission requirements.
The SEC’s proposed rewrite of custody rules for investment advisers and investment companies, including a crypto-specific framework, has entered White House review on Aug. 25, according to The Defiant. The SEC says the planned rule would clarify how advisers and investment companies can custody crypto assets while meeting Commission requirements. The current adviser custody rule generally covers client funds and securities and requires use of a qualified custodian, with assets kept in separate client accounts or accounts held by an adviser as agent or trustee.
The SEC’s 2026 regulatory agenda also frames the effort as part of an update that would remove burdens the agency considers outdated. The new agenda covers both adviser client assets and investment-company fund assets.
The Defiant also notes that this effort follows the withdrawal of a separate February 2023 safeguarding proposal focused on registered investment advisers. That earlier plan would have broadened the custody rule beyond funds and securities to all client assets, including crypto, and proposed additional segregation, custodian-insolvency protections, and updated recordkeeping, before the SEC withdrew it in June 2025 and signaled that any future action would require a new proposed rule.