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FollowingCrypo News
The U.S. Securities and Exchange Commission (SEC) has submitted a proposed amendment to crypto asset custody rules to the White House for review, a move that means the agency is one step closer to providing investment companies with clearer guidance on holding digital assets. 
The proposal was submitted to the White House Office of Information and Regulatory Affairs (OIRA) on August 25-the division of the White House Office of Management and Budget that reviews federal regulations. The SEC said it has previously received advice from multiple investment advisers on how to hold crypto assets for clients within the framework of existing rules.
Modernization of Obsolete Framework
The proposed rule changes cover both the Investment Advisers Act and the Investment Company Act. The SEC described the rulemaking as a dual move and noted: "This rulemaking will clarify the regulatory framework for investment advisers and investment companies to hold crypto assets, while advancing the necessary modernization reforms to eliminate the burden of certain outdated provisions."
The proposal has not yet been made public. OIRA can request changes before returning to the SEC, at which time the committee will vote on whether to publish them for public comment. The submitted information was first reported by the media.
Broader transformation under Chairman Paul Atkins
The proposed custody rule is part of the SEC's broader regulatory reforms since Paul Atkins became chairman in 2025. Atkins promised to end what he called "enforcement instead of supervision" and move to formal rule-making. Since then, the agency has dropped enforcement cases against several major crypto companies, including lawsuits against Coinbase, and issued guidelines stating that memin is not a securities, while clarifying which pledge activities are not subject to securities laws.
Last week, the SEC launched a "Crypto-Asset Regulatory Framework," purportedly a system tailored to raise capital while protecting investors. The proposal builds on guidance jointly issued by the SEC and the Commodity Futures Trading Commission (CFTC) in March on how federal securities laws apply to digital assets. In addition, Atkins has said it plans to introduce innovation exemptions to provide regulatory relief to companies that issue tokenized securities on decentralized platforms, but the framework has not yet been announced. At the same time, while the CLARITY Market Structure Act remains stalled in the Senate, changes to trusteeship rules are also being advanced, and lawmakers are expected to vote on closing debate after the September recess.
