The SEC’s recent move to rescind SAB 121 marks a turning point for Wall Street’s relationship with digital assets. With the rule now lifted, major banks are poised to broaden their digital assets services and reshape the market’s landscape. SEC Reverses Rule, Greenlights Wall Street Banks The U.S Securities and Exchange Commission (SEC) has reversed […]
SAB 121
SEC Unlocks Crypto for Banks: What It Means for Investors
The SEC has officially repealed the Staff Accounting Bulletin or SAB 121, the controversial rule that mandated firms holding crypto assets on behalf of users to classify them as liabilities on their balance sheets. This groundbreaking move marks a significant victory for the crypto industry and could transform how traditional banks interact with digital assets. […]
Bitcoin’s Last Barrier to $5M: Trump’s Bold Executive Order to Unlock Crypto Custody in Banks
As President-elect Donald Trump prepares to take office, he may sign an executive order that transforms the financial landscape. His plan could allow banks to hold Bitcoin and other cryptocurrencies, boosting crypto adoption across the country. Bitcoin Bank Custody President-elect Donald Trump may sign an executive order on his first day in office, allowing banks […]
Biden Upholds SEC’s Crypto Regulation Guidelines Amid Industry Concerns
President Joseph R. Biden Jr. has vetoed House Joint Resolution 109 (H.J.Res. 109). This resolution sought to disapprove the Staff Accounting Bulletin No. 121 (SAB 121) of the U.S. Securities and Exchange Commission (SEC), which provides guidance on firms’ accounting practices for safeguarding crypto-assets. President Biden highlighted the importance of SAB 121 in his decision, […]