SEC proposes letting state trust companies into regulated crypto custody

• —State trust companies would gain a permanent place in regulated crypto custody
• —Advisers could self-custody unsupported assets, with the determination reviewed at least quarterly
• —The SEC estimates self-custody costs about $433,833 a year on average, including $376,000 for an internal-control report
• —Coinbase Custody Trust supports over 470 assets, while Gemini and Fireblocks also rely on trust charters