A DC Win for Crypto

During a relatively slow week in Washington, the Congress sent a resolution to the White House that would stop a SEC rule designed to limit the ability of banks to provide custody services for crypto assets.  The proposed SEC rule, known as Staff Accounting Bulletin 121 (SAB 121), would require banks holding crypto assets on behalf of customers to recognize these items on their balance sheets as liabilities, thus raising capital requirements. Banks joined the crypto community in opposing SAB 1...

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