Getting ready for SAB 121 repeal: safe custody of crypto assets could mark a turning point for capital markets use

SAB 121 is a controversial Securities and Exchange Commission (SEC) accounting guideline that makes it difficult for banks to offer custody of crypto assets in the US. However, a more crypto-friendly Trump administration and a new SEC chair could roll back or modify the rule, unlocking a significant opportunity not just for custody banks but also a wide range of actors in capital markets. This article looks at recent exemptions to SAB 121 the SEC has granted, the likelihood of a repeal, and the implications for market participants.
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