The article discusses the decision by the U.S. Securities and Exchange Commission (SEC) to rescind Staff Accounting Bulletin (SAB) 121, which required entities to present a liability on their balance sheets to reflect their obligation to safeguard crypto-assets held for platform users. The crypto industry sees this as a positive development as it will allow banks and brokers to custody spot crypto more easily, integrating digital assets into traditional financial infrastructure. Financial organizations had previously expressed concerns that SAB 121 hindered the development of digital asset products and services. The article highlights the significance of this decision for the crypto ecosystem and suggests that it could have a greater impact than a potential strategic bitcoin reserve.



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