The SEC formally proposed new custody rules for crypto assets on October 1, 2026, targeting registered investment advisers and regulated funds. Filed under File No. S7-2026-35, the proposal titled “Adviser and Regulated Fund Custody Rules; Crypto Custody Rules” aims to modernize existing custody standards and enable registered firms to provide crypto investment advice. The initiative builds on a September 2025 no-action letter that permitted select state-chartered trust companies to serve as qualified custodians for crypto assets. The public comment period is open for 60 days after publication in the Federal Register.
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