With SAB 121 Rescinded, Can Banks Now Hold Crypto?

For almost three years, Staff Accounting Bulletin 121 of the Securities and Exchange Commission effectively prevented banks from holding crypto on behalf of customers by indirectly requiring them to maintain a capital loss reserve equal to the full value of the crypto even though the bank does not own the crypto. The announcement by SEC … Continue reading “With SAB 121 Rescinded, Can Banks Now Hold Crypto?”