The SEC’s Division of Trading and Markets closed out 2025 with a signal shift in its approach to crypto custody. Staff guidance issued in December for the first time provides a workable framework for broker-dealers to take physical possession of crypto asset securities.
The statement, released alongside updated FAQs on crypto trading and a related request for information (RFI) from Commissioner Hester Peirce, reflects the agencies increasing focused on integrating crypto assets into existing securities market infrastructure rather than treating them as regulatory outlier, according to an analysis by Dechert. It comes as the fate of legislation to define a distinct market structure for crypto assets remains uncertain amid ongoing…
