Updated: October 2, 2026
Crypto news today: The SEC is moving to ease crypto custody requirements for investment advisers, New York and Wyoming are joining forces on digital asset oversight, and Binance is reportedly facing fresh scrutiny in Europe over its use of a MiCA licensing exemption.
Here are the biggest developments shaping crypto regulation, digital asset markets and cryptocurrency businesses today.
Crypto News Today: Quick Summary
- The SEC proposed easing crypto custody rules for investment advisers and funds.
- New York and Wyoming regulators agreed to coordinate licensing, examinations and enforcement involving crypto companies.
- Binance is reportedly under scrutiny in Europe over its use of the reverse-solicitation exemption under MiCA.
SEC Proposes Easier Crypto Custody Rules
The US Securities and Exchange Commission has proposed changes that could make it easier for investment advisers and funds to hold and offer certain crypto assets.
Under the SEC proposal, investment advisers could be allowed to hold clients’ cryptocurrency themselves when no eligible crypto custodian is available, subject to specific conditions.
The proposal would also allow state trust companies to serve as crypto custodians.
SEC Chair Paul Atkins said existing financial rules have struggled to keep pace with the growth of digital assets.
“The crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace.”
The proposal addresses a practical issue facing investment advisers: some tokens may not have an available qualified custodian, limiting the digital assets advisers can offer their clients.
The Digital Chamber previously highlighted this problem in a May 2025 submission to the SEC, saying some advisers had declined token allocations or asked portfolio companies to retain them until suitable custody services became available.
Why the SEC Crypto Custody Proposal Matters
Crypto custody has been a significant operational and regulatory challenge for advisers seeking to provide clients with exposure to digital assets.
If adopted, the SEC proposal could give investment advisers more flexibility when handling certain cryptocurrencies while establishing safeguards around how those assets are stored.
It could also broaden the role of state trust companies in the US crypto custody market.
New York and Wyoming Join Forces on Crypto Oversight
New York and Wyoming regulators have agreed to coordinate their supervision of crypto companies operating across both states.
The agreement between the New York State Department of Financial Services, or NYDFS, and the Wyoming Division of Banking covers licensing reviews, regulatory examinations and potential enforcement actions.
The two regulators will be able to share supervisory information and historical examination data. They also plan to coordinate examination schedules and could conduct joint reviews of digital asset companies operating in both jurisdictions.
Some Crypto Companies Could Get Faster Licensing
Crypto businesses already regulated in one state may also receive a faster path to approval in the other.
Companies that have maintained a license or charter for at least three years without facing enforcement action may qualify for an expedited review process, with regulators targeting a decision within six months.
The agreement also allows New York and Wyoming officials to share investigative information and coordinate potential enforcement actions.
Why the New York-Wyoming Agreement Matters
The partnership is notable because the two states have historically taken different approaches to cryptocurrency regulation in the United States.
New York has operated its strict BitLicense framework since 2015. Wyoming, meanwhile, has pursued crypto-friendly legislation and specialized banking charters designed to accommodate digital asset companies.
Closer cooperation could make regulatory requirements more predictable for firms operating in both states while reducing duplicated supervisory work.
Binance Faces MiCA Scrutiny in Europe
European regulators are reportedly examining Binance’s use of an exemption that allows some non-EU crypto companies to serve customers without full authorization under the European Union’s Markets in Crypto-Assets Regulation, or MiCA.
According to a Thursday Financial Times report, the European Securities and Markets Authority, or ESMA, along with regulators in France, Germany and Greece, are scrutinizing Binance’s use of reverse solicitation.
Binance withdrew its Greek MiCA application in June and said it intended to seek authorization in another EU member state.
The exchange said on Sept. 18 that it continues to pursue MiCA authorization and remains committed to operating in Europe on a long-term compliant basis.
According to the report, Binance is currently relying on reverse solicitation to continue serving some customers in the European Union.
What Is Reverse Solicitation Under MiCA?
Reverse solicitation allows a non-EU crypto asset service provider, or CASP, to serve an EU customer when the customer approaches the company entirely on their own initiative.
However, ESMA guidelines state that companies cannot use the exemption to bypass MiCA requirements.
That distinction has become increasingly important as exchanges and other crypto businesses adjust to the European Union’s new regulatory framework.
Why Binance’s MiCA Scrutiny Matters
The regulatory examination could help clarify how narrowly authorities interpret reverse solicitation under MiCA.
For global crypto exchanges, the issue goes beyond Binance. European regulators are establishing how companies based outside the EU can legally serve European customers without obtaining full authorization.
The outcome could therefore influence how other international crypto platforms structure their European operations.
What Today’s Crypto News Means for the Industry
Regulation is driving several of the most important developments in the crypto market today.
In the United States, the SEC is considering a more flexible framework for cryptocurrency custody, while New York and Wyoming are moving toward greater cooperation in supervising digital asset companies.
In Europe, the focus is shifting toward how MiCA will be enforced in practice, particularly when large global exchanges rely on regulatory exemptions.
Together, the developments show that crypto regulation is moving beyond broad policy debates and increasingly focusing on the practical rules governing custody, licensing, supervision and access to digital asset markets.
The Takeaway
The biggest crypto news today centers on how regulators are adapting existing financial frameworks to digital assets.
The SEC’s proposed custody changes could remove an obstacle for investment advisers, the New York-Wyoming agreement could simplify oversight for companies operating across state lines, and the scrutiny surrounding Binance could help define the limits of MiCA exemptions in Europe.
For crypto businesses and investors, the next phase of regulation will increasingly depend on how these rules are implemented — not just how they are written.
