The U.S. Securities and Exchange Commission proposed a crypto custody framework on October 1, 2026, covering registered investment advisers, investment companies, and business development companies, one day before Commissioner Hester Peirce concluded her tenure. The proposal would permit self-custody in limited circumstances, allow state trust companies to serve as custodians, and update recordkeeping requirements. It is not final, and a 60-day public-comment period will begin after publication in the Federal Register. Peirce, who joined the SEC on January 11, 2018, led the agency's Crypto Task Force from 2025 as it worked on a structured digital-asset framework. Her departure leaves Chairman Paul Atkins and Commissioner Mark Uyeda as the SEC's two remaining commissioners, with no successor named. Atkins said the custody proposal is part of a broader effort to establish a comprehensive U.S. crypto framework, with additional proposals to follow.