SEC Loosens SAB 121 Rules, Paving the Way for Banks to Enter Crypto Custody Market

Quick Summary:

Securities and Exchange Commission (SEC) has provided new guidance that could allow banks to offer crypto asset custody services without adhering to strict accounting requirements under Staff Accounting Bulletin No.121 (SAB 121).  SEC Chief Accountant Paul Munter announced the new guidelines in a speech on September 9, paving the way for banks […]

The post SEC Loosens SAB 121 Rules, Paving the Way for Banks to Enter Crypto Custody Market appeared first on Coin Edition.

SAB 121, introduced by the SEC in 2022, requires public companies to account for digital assets held for clients on their balance sheets.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Abdulkarim Abdulwahab

Category: Crypto

Markets: India

Topics: SEC Market News Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-14 @ 10:35:00 (11 hours ago)

News Timezone: GMT +0:00

News Source URL: coinedition.com

Language: English

Article Length: 146 words

Reading Time: 1 minutes read

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinedition

News ID: 22505743

View Article Analysis

About Coinedition

Main Topics: Crypto

Official Website: coinedition.com

Update Frequency: 7 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 11 hours ago

Coverage Areas: India

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #124

Publisher Details

Frequently Asked Questions