The U.S. Securities and Exchange Commission (SEC) has made a noteworthy decision by rescinding SAB 121, which had previously posed barriers to traditional banks wishing to custody Bitcoin and other cryptocurrencies. This move represents a significant shift in crypto regulation, as it opens the door for financial institutions to engage more directly with digital assets.
The rescinding of SAB 121 indicates an evolving regulatory landscape where banks may now play a more prominent role in the custody of cryptocurrencies, potentially increasing their accessibility and security for investors and users.
Source : bitcoinmagazine.com ↗