The U.S. Securities and Exchange Commission (SEC) has taken an important preliminary step aimed at broadening the scope of cryptocurrency custody services, which would now include state trust companies. This development signifies a significant shift in regulatory approach, potentially allowing more entities to engage in the custody of digital assets under state-level regulations. By opening the door for state trusts to participate in crypto custody, the SEC is recognizing the growing importance of digital currencies in the financial landscape and is working to establish a framework that ensures security and compliance for investors in the rapidly evolving cryptocurrency market.
source: https://www.coindesk.com/policy/2025/09/30/u-s-sec-takes-preliminary-step-to-expand-universe-of-crypto-custody-to-state-trusts