SEC Revokes Divisive Rule That Kept Major Banks Away from Crypto
After persistent efforts by the cryptocurrency sector, the SEC has officially revoked an accounting directive that had previously required banks to show digital assets as liabilities on their financial statements. The directive had been a significant obstacle for major Wall Street financial institutions considering crypto investments. The repeal aligns with a series of policy changes introduced under the Trump administration, aimed at making it easier for financial companies in the U.S. to engage with decentralized digital currencies. The directive—SAB 121—was established in 2022 and placed stringent capital requirements on crypto assets. These regulations heightened both financial and compliance burdens associated…
