The U.S. Securities and Exchange Commission proposed new crypto-custody rules and amendments on 1 October for registered investment advisers and regulated funds. The proposal would allow self-custody in certain circumstances and permit state trust companies to act as custodians for covered client and fund crypto assets.
The practical change is a possible compliance route for institutions that want crypto exposure. However, no final rule took effect. The comment period is set for 60 days after publication in the Federal Register, so the announcement date alone does not establish the closing date. Israeli and Gulf fintech firms serving U.S. institutions should watch the eventual definitions, controls and audit obligations rather than treating the proposal as immediate permission.