A new draft proposal is loosening the established rules around crypto asset custody. The U.S. Securities and Exchange Commission (SEC) has introduced a framework for investment advisors and funds built around two core elements: permitting self-custody under specific conditions, and opening the door for state trust companies to serve as qualified custodians.
For institutions that have been handling crypto assets long-term, custody has never been a minor issue—who holds the private keys and who's responsible for asset security directly shapes compliance and risk structures. This draft lays the options out on the table: institutions can keep their own keys, or hand them over to a state-regulated trust company, rather than being limited to relying on a single type of custodian.
At this point, public information is limited to the framework proposal itself—full legal text, scope details, and an effective timeline have yet to surface. Further specifics are expected to come from the SEC in due course.
