White House Reviews SEC Crypto Rules After Democratic Midterm Victory

The SEC sent a proposed crypto broker-dealer rule to the White House on Nov. 3, 2026, covering four securities regulations on capital, custody, and recordkeeping. The review comes as Democrats prepare to control both chambers of Congress after midterm victories, raising the prospect of tougher oversight of digital-asset intermediaries. The rule would set capital, custody, and recordkeeping standards for crypto firms acting as broker-dealers, a segment that has operated without tailored SEC requirements. It matters because the timing lets the outgoing leadership shape the framework before the new Congress and potentially a reshaped SEC can revise it. What to watch next is the White House review timeline, the rule's publication for public comment, and whether Democratic lawmakers challenge the capital and custody provisions.