The SEC just dropped new guidance on how broker-dealers can hold crypto asset securities in custody. Here's what matters: this is interim clarity while regulators work on a more comprehensive, long-term custody framework.

Basically, the regulator is laying down some ground rules now rather than waiting for the full framework to be finalized. For anyone dealing with institutional crypto holdings, this is important—it clarifies what's permissible in the meantime. The broader custody rules are still in development, so expect more updates as the SEC continues building out the complete regulatory picture.