US SEC Submits Crypto Asset Custody Rules Proposal to White House for Review
2026.08.26 21:30:09
According to a Bloomberg report, the U.S. Securities and Exchange Commission (SEC) on August 25 submitted a new proposal concerning digital asset custody for clients by investment advisors and investment companies to the White House Office of Management and Budget (OMB) for review. The federal regulatory agenda indicates that the proposal aims to "clarify the crypto asset custody framework", addressing how relevant institutions can hold digital assets for clients without violating SEC regulations. The SEC noted that the proposal will also eliminate certain custody requirements that have become "outdated" amid market developments and current shifts in trading and asset holding practices, as part of Chair Paul Atkins’ efforts to modernize the regulatory framework. This move signals that while legislation on crypto market structure remains stalled in the U.S. Senate, American financial regulators are forging ahead with the crypto policy agenda of the Trump administration. The full proposal text will be released only after OMB completes its review; the office may revise the content, after which the proposal will go to a vote by the SEC commission, which currently comprises three Republican members. If approved, the SEC typically will open a public comment period of at least 60 days, followed by revisions and a second vote before the final rule takes effect.
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