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SEC Rule Change Makes Cryptocurrency Offers Easier For Banks
SEC Rule Change Makes Cryptocurrency Offers Easier For Banks
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The US SEC has withdrawn the controversial SAB 121, which required banks and companies to list customer cryptocurrency holdings in their statements. The new rule, SAB 122, directs companies to use the Financial Accounting Standards Board rules or International Accounting Standard provisions. This change is expected to make it easier for banks to offer crypto exposure to clients, as firms no longer need to list customer crypto holdings but must report risks if something goes awry. SEC Commissioner Hester Peirce shared the cryptocurrency-positive news on X.
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