SEC Moves Crypto Custody Rule Forward with White House Review
The proposal would clarify how advisers and funds hold crypto client assets as the SEC shifts toward formal rulemaking, Bloomberg reported.
- On Tuesday, August 25, 2026, the SEC submitted "Amendments to the Custody Rules" to The White House Office for review, aiming to clarify how investment advisers and investment companies can hold crypto assets for clients.
- Chair Paul Atkins has pivoted the SEC from the previous administration's "regulation through enforcement" approach toward formal rulemaking, vowing to end prior enforcement-focused practices and develop clearer regulatory frameworks.
- The proposed amendments apply to rules under both the Investment Advisers Act and the Investment Company Act, intending to resolve uncertainty about how firms can securely hold client crypto assets while maintaining compliance.
- Once The White House Office completes its review, the SEC's three Republican commissioners will vote on whether to publish the proposal for public comment, which would normally remain open for at least 60 days.
- This rulemaking proceeds as the Senate continues negotiating the CLARITY Act, while Atkins maintained the SEC can address issues under existing powers, though legislation would provide a more durable framework for matters requiring Congress's action.
14 Articles
14 Articles
(New York = Yonhap News) Correspondent Kim Yeon-sook = The U.S. Securities and Exchange Commission (SEC) has set out to revise regulations regarding the custody of clients' digital assets by investment advisory firms and investment companies...
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