According to the latest development, the SEC has officially revoked the SAB121 rule introduced by the Biden administration, which was negative for the cryptocurrency world.
One of former SEC Chairman Gensler’s most controversial issues was staff accounting bulletin SAB 121, which effectively barred banks from providing custody of digital assets, including tokenized securities. That rule was subsequently repealed.
The Government Accountability Office (GAO) had determined that SAB 121 needed to be reviewed by Congress. Both the House and Senate voted to repeal it, but President Biden cast a presidential veto, so the law remained in effect.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-sec-rescinds-sab121-rule-which-was-having-a-negative-impact-on-the-cryptocurrency-world/