SEC Rescinds SAB 121, Permitting Banks to Custody Bitcoin
The SEC has rescinded SAB 121, removing barriers for banks to custody Bitcoin and crypto, signaling a major shift in crypto regulation.
In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has officially rescinded Staff Accounting Bulletin (SAB) No. 121, a controversial rule that had long hindered banks from offering bitcoin and crypto custody services. This move, announced on Thursday, signals a significant shift in the SEC's approach to regulating bitcoin and crypto and paves the way for greater financial integration.
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