SEC's Atkins Pushes Crypto Custody and Rulemaking After CLARITY Act Stalls in Senate - finance.biggo.com

The Securities and Exchange Commission appears to be shifting its focus toward agency-level rulemaking on digital asset custody, following the stall of the CLARITY Act in the Senate. According to reports, SEC leadership under Atkins is pursuing this path as comprehensive market structure legislation remains pending.

For market participants, this signals that the regulatory framework for crypto may advance through the SEC's own rulemaking process rather than waiting on Congress. Custody rules are particularly consequential because they govern how institutions safeguard client assets — a foundational issue for exchanges, custodians, and asset managers seeking to serve institutional clients.

What to watch: the scope and timing of any proposed custody rule changes, whether they invite public comment, and how they interact with existing state and federal frameworks. Also relevant is whether the SEC coordinates with other agencies, such as the CFTC, on overlapping jurisdictions. Until formal proposals are published, the practical impact remains uncertain, and prior legislative efforts could still be revived. Observers should treat this as a directional signal, not a finalized policy.