U.S. Securities and Exchange Commission (SEC) staff are weighing possible changes to broker capital, customer-asset and recordkeeping rules for crypto, while a draft remains in White House review with its text undisclosed.
The SEC's agenda names the Division of Trading and Markets as reviewing financial-responsibility and recordkeeping requirements for crypto assets. It lists Rules 15c3-1 and 15c3-3, along with Rules 17a-3 and 17a-4. Rule 15c3-1 sets net capital standards; Rule 15c3-3 addresses customer funds and securities. Rules 17a-3 and 17a-4 cover records brokers make and preserve. Other broker-dealer financial-responsibility rules are also included. Together, the provisions cover firms' capital, customer property and business records. The agenda identifies no exemptions or proposed capital levels.
Under the current framework, brokers must keep liquid assets, safeguard customer funds and securities, and maintain business records. SEC staff guidance distinguishes crypto assets that are securities from those that are not when explaining how these protections apply. That guidance addresses existing safeguards; the agenda does not say whether a future amendment would treat either category differently.
The Office of Information and Regulatory Affairs (OIRA) recorded the draft's receipt on Nov. 3 and lists its review as pending at the proposed-rule stage. OIRA's public record does not include the draft text or set a legal deadline. OIRA reviews draft proposed rules before publication, so the entry establishes the current review status without revealing the language under consideration.
The SEC agenda's timetable gave July 2026 for a notice of proposed rulemaking, but that date has passed and no replacement appears. If the SEC publishes a proposal, the public comment process would take place before the agency decides whether to issue a final rule.
