In March, the SEC said all U.S.-listed public companies that function as crypto custodians should account for their crypto exposure as liabilities instead of assets on their balance sheets and disclose risks associated with those liabilities to investors. The custody of crypto assets by lenders presents unique technological, legal and regulatory risks compared with other assets, the SEC guidance said.
Source: https://www.coindesk.com/policy/2022/09/16/secs-crypto-guidance-pushes-us-banks-to-rethink-custody-projects-report/?utm_medium=referral&utm_source=rss&utm_campaign=headlines