US SEC Prepares New Rules for Safely Storing Crypto Assets

The U.S. government is quietly building the rulebook that could bring crypto into the mainstream financial world.

The SEC (Securities and Exchange Commission — the U.S. agency that regulates financial markets and protects investors) is working on new rules for how companies should safely store, or "custody," crypto assets on behalf of customers.

Taylor Lindman, the top lawyer on the SEC's Crypto Task Force, explained the plan at a recent industry event in Washington. He described the work as "boring" but important — the behind-the-scenes rules needed to make crypto fit into the existing, regulated financial system.

What is "custody" and why does it matter?

Custody simply means safely holding someone else's assets. When you keep money in a bank, the bank has custody of it. The SEC wants clear rules so that professional financial firms can hold crypto for their clients without confusion or risk.

The key points from the proposal:

• It would apply to broker-dealers (firms that buy and sell investments for customers) and investment advisers (professionals who manage clients' money).
• It aims to let firms hold crypto without needing special extra registration.
• It would clarify that advisers can store client crypto with state-chartered trusts (companies licensed by a U.S. state to safely hold assets).

The proposal is currently under review by the White House's Office of Management and Budget. Once approved, the SEC can formally publish it and gather feedback from the public and the industry before it becomes official.

This is a big shift from 2023, when the SEC's previous leadership took a much tougher stance and said crypto firms themselves shouldn't be allowed to hold these assets. That earlier rule was scrapped after new, more crypto-friendly leadership took over.

The bottom line: The SEC is trying to "meet the market where it's at" — turning crypto from a "scary" unknown into a normal, regulated part of finance. For everyday investors, clearer rules could mean safer and more trustworthy ways to hold crypto in the future.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/policy/2026/09/22/next-for-the-u-s-sec-agency-s-chief-crypto-counsel-illuminates-path-for-custody