Daily Brief: SEC proposes crypto custody overhaul and grants tokenized stock relief

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SEC Proposes Overhaul of Crypto Custody Rules for Investment Advisers and Funds

The SEC proposed rules under the 1940 Acts to establish a tailored crypto custody framework for advisers and funds, permitting the use of state trust companies and conditional self-custody.

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SEC Grants Conditional Relief for Onchain Tokenized Stock Trading

The regulator approved the Innovation Exemption to permit trading of tokenized NMS stocks under conditional Exchange Act relief.

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ECB and BIS Warn Stablecoins Challenge Monetary Control and Banking Stability

With the stablecoin market cap approaching $300 billion, ECB official Isabel Schnabel warned of bank disintermediation and run risks.

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Robinhood Launches Public Mainnet for Arbitrum-Based Layer 2

Robinhood launched its Arbitrum-based Layer 2, Robinhood Chain, featuring day-one deployments from Uniswap and Pleiades. The rollout includes stock tokens in over 120 countries and USDG lending via Morpho for US users.

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Chainalysis Traces $387 Million Bitget Heist Linked to North Korea

North Korean-attributed attackers stole $387 million from exchange Bitget on Sept. 24 across 23 transactions on four chains. The breach pushed total cryptocurrency stolen by DPRK-linked entities in 2026 above $1 billion.

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Ethereum Foundation and Open Anonymity Project Deploy zkAPI on Mainnet

Launched on Oct. 1, zkAPI uses Groth16 zero-knowledge proofs to let users pay for metered AI queries and RPCs from an onchain vault.

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Ethereum Researchers Propose EIP-8363 Issuance Burn for Hegotá Hard Fork

A new proposal for the Hegotá upgrade aims to burn validator rewards when staking levels climb, phasing in over 18 months. The mechanism eliminates the issuance incentive to stake past 50% of circulating ETH to prevent…

The numbers

Bitcoin rose 2.8% to $86,289, leading a 1.4% climb in total market capitalization to $2.92 trillion, while Ethereum gained 1.6% to trade at $2,743.

What to watch

• The publication of the SEC's crypto custody proposing release in the Federal Register to start the 60-day public comment period.
• Client developer calls reviewing the Hegotá scope to decide if EIP-8363 advances to 'Considered' or 'Scheduled' status.
• Chainalysis's scheduled showcase of its investigative platform capabilities on Nov. 19, 2026.

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