The SEC’s rewrite of custody rules for investment advisers and funds handling crypto assets entered White House review on August 25. This revision affects registered advisers, investment companies, banks and state trust companies that hold digital assets. The target for publishing a notice of proposed rulemaking is set for October 2026, but it is only a planning date with no legal deadline. In June 2025, the SEC had withdrawn its 2023 safeguarding proposal, paving the way for this new regulatory approach. The release of the actual rules will be decisive in determining which institutions may custody crypto assets and the safeguards they must provide.
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