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SEC Rescinds SAB 121: What it Means For Crypto Industry and Bitcoin? Coinpedia il y a 3 semaines

SEC Rescinds SAB 121: What it Means For Crypto Industry and Bitcoin? 📈

SEC Bitcoin Coinbase

The SEC's official rescission of SAB 121 marks a pivotal shift in the crypto market landscape. Previously, SAB 121 imposed stringent accounting requirements, limiting banks' ability to hold crypto assets. Its removal is celebrated as a bullish move, potentially transforming how banks interact with digital assets.

With SAB 121 lifted, banks can now explore a broader range of crypto services. This change enables institutions to provide crypto custody, allowing banks to safeguard digital assets on behalf of clients. It also facilitates the buying and selling of cryptocurrencies, potentially increasing market liquidity.

The decision reflects the SEC's recognition of the evolving financial ecosystem and the importance of integrating traditional banking structures with emerging digital currencies. By rescinding SAB 121, the SEC paves the way for enhanced institutional involvement in the crypto market, promising a new era of digital asset engagement.

Source : coinpedia.org ↗

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