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Home»EXCHANGE NEWS»New SEC rules open the door for banks to offer crypto services.
EXCHANGE NEWS

New SEC rules open the door for banks to offer crypto services.

By Crypto FlexsJanuary 25, 20252 Mins Read
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New SEC rules open the door for banks to offer crypto services.
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The U.S. Securities and Exchange Commission (SEC) has revised the controversial Staff Accounting Bulletin 121 (SAB 121).

The previous guidance required companies to recognize customers’ crypto holdings as liabilities on their balance sheets, which drew strong criticism from the digital asset industry. However, the latest revision removes this requirement. Simply put, the amendments will make it easier for banks to offer cryptocurrency exposure to their customers.

Hello, bye sab 121! Wasn’t fun: https://t.co/ciwuc0isue | Employee Accounting Bulletin No. 122

– Hester Peirce (@hesterpeirce) January 23, 2025

Under the new framework, financial institutions will no longer be required to list customer crypto holdings as part of their assets and liabilities. However, the SEC still mandates that companies report the risks associated with these holdings in case adverse events occur.

SEC’s New Approach to Addressing Crypto Services

According to an official statement from the SEC, the staff reminds companies that they must continue to consider existing requirements to provide disclosures that allow investors to understand the entity’s obligations to protect crypto assets held for others. “

The SEC’s policy revisions are likely to spark optimism in the crypto markets. Makes it easier for banks to provide cryptocurrency-related services. This decision could trigger a surge in institutional adoption and spark a massive rally in the crypto market. Over the past few years, major financial institutions have expanded their crypto offerings in response to growing customer demand.

Adding to his recent bullish sentiment, US President Donald Trump recently signed an executive order directing federal agencies to create a national digital asset reserve.

Also read: Donald Trump

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