SEC Crypto Custody Rewrite Enters White House Review Amid Uncertainty

The Securities and Exchange Commission's (SEC) rewritten crypto custody rules have entered White House review, starting an active pre-publication review of a significant proposal that affects registered investment advisers and funds handling cryptocurrencies. The process began on August 25 and is now under review by the Office of Information and Regulatory Affairs (OIRA).

The SEC's 'Amendments to the Custody Rules' are currently at the proposed-rule stage, with no legal deadline for publication. According to the Unified Agenda entry, the target for a notice of proposed rulemaking is October 2026, but this is an agency planning target and not a fixed deadline.

The rewritten rules will impact institutions such as banks and state trust companies that hold assets for registered investment advisers and funds. The key rules remain undisclosed, leaving uncertainty about eligibility requirements, controls, or safeguards. This marks the start of a new rulemaking process, rather than reviving the earlier proposal's requirements.