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SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws
Issuer U.S. Securities and Exchange Commission · Published
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On October 1, 2026, the U.S. Securities and Exchange Commission announced (Press Release 2026-100) that it proposed new rules and amendments to provide a tailored framework for the custody of crypto assets by registered investment advisers and regulated funds, including registered investment companies and business development companies. The proposal, made under the Investment Advisers Act of 1940 and the Investment Company Act of 1940, would update requirements relating to financial statement audits for registered investment advisers and broker-dealer custodial services for regulated funds, permit crypto assets to be held in self-custody under certain circumstances, and allow the use of state trust companies as custodians for client and regulated fund crypto assets. SEC Chairman Paul S. Atkins stated that the proposal would provide a clear regulatory framework for crypto asset custody. The SEC stated that the public comment period will remain open for 60 days following publication of the proposing release in the Federal Register.
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