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. The plan would permit self-custody in limited circumstances, allow state trust companies to serve as custodians, and update recordkeeping requirements for advisers and funds. SEC Chairman Paul Atkins said the formal proposal is part of a broader effort to establish a comprehensive crypto regulatory framework, with additional crypto proposals to follow. The proposal is not final, and a 60-day public-comment period will begin after publication in the Federal Register. It follows the SEC's August 18, 2026, proposal for Regulation Crypto Assets, while the Clarity Act stalled in September 2026. Commissioner Hester M. Peirce is departing the SEC after the custody proposal.