SEC crypto custody rewrite enters White House review with key rules still undisclosed

The SEC crypto custody rewrite for investment advisers and funds, including their crypto assets, entered White House review on Aug. 25. The move starts an active pre-publication review of an economically significant proposal with direct consequences for advisers, investment companies and the institutions that hold their assets.

The Office of Information and Regulatory Affairs record lists the SEC's “Amendments to the Custody Rules” as pending at the proposed-rule stage, with no legal deadline. OIRA coordinates Executive Branch review of significant draft regulations before an agency publishes them. The receipt advances the rulemaking process; publication and Commission consideration still lie ahead.

The Unified Agenda entry says the SEC is considering changes for investment adviser client assets and fund assets, including crypto. It lists October 2026 as the target for a notice of proposed rulemaking. That date is an agency planning target, while the OIRA record lists no legal deadline.

Registered investment advisers and investment companies sit closest to the rulemaking. Their custody arrangements rely on institutions that meet federal requirements, bringing banks and state trust companies into the commercial stakes. The published records provide no operative proposal language, leaving the direction of any changes to eligibility, controls, or safeguards unresolved.