The Securities and Exchange Commission has sent a significant proposal to the White House aiming to “clarify the framework for the custody of crypto assets” for investment advisers and companies.
In a rule change submitted on Tuesday, the regulator emphasized its goal to “improve and modernize the regulations” surrounding digital asset custody.
Regulatory Push Follows Congressional Delays on the Clarity Act
The proposal arrives right after a scheduled vote was delayed on the long-awaited Clarity Act.
Despite the legislative setback, watchdogs like the SEC and the Commodity Futures Trading Commission have made it clear they will continue shaping crypto policy independently.
Modernizing Outdated Financial Rules for Digital Assets
The official proposal explicitly stated: “This rulemaking would clarify the framework for the custody of crypto assets for investment adviser and investment companies, as well as make other modernizations needed to remove burdens from certain outdated provisions that are no longer needed to provide investor protection given the evolution in the markets and security trading and holding practices.”
Pro-crypto lawmakers had originally hoped to pass the Clarity Act before Congress broke for its August recess.
However, the vote slipped to September after Democrats raised concerns regarding the latest draft.
Political Divisions and Bipartisan Pressure Over Crypto Policy
Prominent Republican senators, including Senator Cynthia Lummis, accused political opponents of deliberately stalling the legislation.
Nevertheless, regulators remain determined to press forward with executive action.
CFTC Chairman Michael Selig confirmed he will proceed with rulemaking regardless of whether the Clarity Act is enacted.
Earlier this month, the SEC also introduced a separate framework allowing token issuers to raise capital in the United States safely.
President Donald Trump previously campaigned on strong support for the crypto sector, securing substantial backing from Silicon Valley leaders.
With the administration now in office, federal watchdogs have visibly shifted their approach toward digital assets.
President Donald Trump recently urged lawmakers to finalize the Clarity Act, while SEC Chair Paul Atkins reaffirmed that he is “committed to supporting Congress in advancing” the legislation.
