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The Securities and Exchange Commission (SEC) has reiterated its stance on cryptocurrency custody rules, specifically SAB 121. This rule restricts regulated financial institutions, including banks, from providing crypto custody services unless they meet specific exceptions, such as recording a liability for holding crypto assets. SEC Chief Accountant Paul Munter emphasized that the agency is not changing its position on this matter. The SEC also warned crypto investors to use only approved digital exchanges and platforms for trading.
SEC STAYS STRONG ON CRYPTO CUSTODY RULES The SEC is sticking to its guns on SAB 121, which requires banks to record a liability for holding crypto assets unless they meet specific exceptions. SEC chief accountant Paul Munter just doubled down on this, saying the agency isn’t… https://t.co/Cue7ahDuEy
SEC STANDS FIRM ON CRYPTO CUSTODY RULE The SEC has reaffirmed its commitment to its crypto custody rule, SAB 121, which restricts regulated financial firms from providing crypto custody services. In a recent address, SEC chief accountant Paul Munter emphasized that the… https://t.co/zghMx9RB36
The Securities and Exchange Commission (SEC) is standing firm on its bank cryptocurrency custody rule, with no change in stance, says SEC Chief Accountant Paul Munter. #SEC #cryptocurrency #custodyrule
