The SEC proposed on October 1, 2026 a set of rules on crypto asset custody targeting registered investment advisors and regulated funds in the United States. The proposal allows self-custody for advisors under strict conditions, including joint authorization from at least two persons for each transaction and an annual cybersecurity review. The SEC also officially recognizes state trust companies as qualified custodians, enabling them to serve as intermediaries for advisor clients. The global crypto market capitalization stood at 2.7 trillion dollars in May 2026, and 9.2 % of American adults hold cryptos according to the SEC. This text complements chairman Paul Atkins’ regulatory plan aimed at filling the void left by the failure of the CLARITY Act in Congress, which garnered only 49 votes in the Senate, far short of the 60 needed.
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