RIA digital-asset regulatory change ledger
Which authority changed what, for whom, on what date, and what an advisor must do next.
SEC investment-management staff permits conditional use of state trust companies for crypto custody
Investment Management staff provided conditional no-action relief allowing registered advisers and regulated funds to treat certain state-chartered trust companies as permissible bank custodians for crypto assets and…
NYDFS extends blockchain-analytics guidance to banking organizations
NYDFS told regulated banking organizations engaged in or exposed to virtual-currency activity to consider blockchain analytics for wallet screening, funds verification, transaction monitoring, third-party diligence…
Federal Reserve sunsets its novel-activities supervision program
The Federal Reserve ended its separate novel-activities supervision program and returned monitoring of bank crypto, distributed-ledger, and technology-driven activities to its standard supervisory process.
FinCEN issues virtual-currency kiosk scam and illicit-finance notice
FinCEN urged financial institutions to identify and report suspicious CVC-kiosk activity and supplied typologies and red flags for scams, cybercrime, and drug-trafficking activity.
Banking agencies issue joint crypto-asset safekeeping risk-management statement
The federal banking agencies jointly described risk-management considerations for banks that safeguard crypto assets, including key management, due diligence, governance, legal and compliance risks, audit, resilience…
SEC staff identifies disclosure considerations for crypto-asset exchange-traded products
Corporation Finance staff consolidated disclosure observations for crypto-asset ETP filings, including index or reference asset, custody, creation and redemption, fees, conflicts, valuation, network, trading, and…
IRS extends transition relief for digital-asset broker backup withholding and reporting
Treasury and the IRS extended specified transition relief for brokers implementing Form 1099-DA reporting and backup withholding, including broad backup-withholding relief for 2026 transactions and conditional 2027…
Labor Department rescinds its special 'extreme care' cryptocurrency guidance
EBSA rescinded its 2022 cryptocurrency compliance release in full and returned to a neutral, context-specific application of ordinary ERISA fiduciary principles rather than a special 'extreme care' formulation.
SEC staff withdraws the joint broker-dealer digital-asset custody statement
SEC staff withdrew the 2019 joint statement on broker-dealer custody of digital asset securities.
OCC confirms banks may execute and outsource crypto transactions tied to custody services
The OCC confirmed that national banks may provide customer-directed crypto-asset execution as an accommodation to custody services and may use sub-custodians and other third parties for permissible activities.
SEC staff withdraws its 2022 crypto-market disclosure sample letter
Corporation Finance staff withdrew its December 2022 sample letter focused on disclosure of crypto-market disruption, bankruptcy, counterparty, liquidity, custody, collateral, and regulatory risks.
Federal Reserve withdraws crypto and dollar-token notification and nonobjection guidance
The Federal Reserve withdrew prior guidance directing supervised banks to notify the Board before crypto activities and establishing a written nonobjection process for dollar-token activities.
SEC staff identifies disclosure considerations for crypto-asset securities offerings and registrations
Corporation Finance staff organized disclosure considerations for registered offerings and registrations involving crypto assets, including business, technical, rights, network, custody, market, and legal risks.
DOJ narrows digital-asset enforcement priorities
The Deputy Attorney General directed DOJ personnel to stop using criminal enforcement to create digital-asset regulatory frameworks and to focus cases on knowing or willful violations and conduct involving investor…
CFTC staff withdraws special risk-review advisory for expanded digital-asset clearing
CFTC clearing staff withdrew Advisory 23-07, which had described review of risks associated with DCO expansion into digital-asset clearing.
FDIC rescinds prior-approval expectations for bank crypto-related activities
The FDIC rescinded FIL-16-2022 and stated that FDIC-supervised institutions may engage in permissible crypto-related activities without first notifying the agency or receiving nonobjection.
CFTC staff withdraws special virtual-currency derivative listing advisory
CFTC staff withdrew Advisory 18-14 concerning virtual-currency derivative product listings.
OCC removes supervisory nonobjection requirement for permissible bank crypto activities
The OCC reaffirmed prior legal conclusions permitting specified crypto custody, stablecoin, and distributed-ledger activities and rescinded the requirement that a national bank obtain written supervisory nonobjection…
FINRA’s 2025 oversight report details crypto-asset supervisory findings
FINRA’s 2025 report identified crypto-related failures and effective practices involving public communications, SIPC distinctions, private-placement diligence, AML monitoring, outside activities, and supervision of…
SEC accounting staff rescinds SAB 121 through Staff Accounting Bulletin 122
SEC accounting staff rescinded SAB 121’s staff view that an entity safeguarding customer crypto assets should recognize a safeguarding liability and corresponding asset.
NYDFS warns regulated firms about sentiment-based virtual currencies
NYDFS directed regulated virtual-currency businesses to apply product-listing, governance, disclosure, and consumer-protection controls to rapidly proliferating sentiment-based virtual currencies, including so-called…
IRS basis-identification relief takes effect for digital assets held with brokers
Temporary relief took effect allowing eligible taxpayers during 2025 to make adequate unit identification for broker-custodied digital assets through specified records or standing instructions when broker systems could…
How to read the ledger
Each entry names its posture: a binding action, a proposal, guidance, enforcement, or a political signal. A speech is not a rule and a bill is not a law. Every entry starts from the primary document and lists what is still open, rather than turning a headline into permission.
Coverage and corrections
The ledger follows the U.S. authorities that matter to registered investment advisers, plus state actions of national weight. A published version never changes. A correction or a changed reading creates a new version at the same address, and every earlier version stays in the JSON ledger.
Educational analysis for financial professionals. Not legal, tax, compliance, or investment advice. Verify current primary sources and consult qualified counsel before implementation.