United States banks can now officially hodl Bitcoin.
The SEC's Accounting Bulletin No. 121 required banks to treat Bitcoin as a liability, making it costly and impractical. Today’s repeal means banks can buy and custody Bitcoin, like other assets.
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JUST IN: The SEC has rescinded SAB 121, clearing the way for financial institutions to custody Bitcoin.
SAB 121 had required banks to treat customer-held crypto as liabilities, imposing heavy capital requirements.
Its removal now encourages banks to offer BTC custody services
BlackRock CEO Larry Fink says "I want the SEC to rapidly approve the tokenisation of bonds and stocks."
A special Pasta!
Bitcoin Standard...
