The rule could prevent American banks from being able to custody crypto exchange-traded products at scale, potentially "creating a concentration risk by handing more control over to non-bank entities

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The rule could prevent American banks from being able to custody crypto exchange-traded products at scale, potentially "creating a concentration risk by handing more control over to non-bank entities

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SEC cancels controversial crypto accounting rule SAB 121

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Revoked SAB 121 discouraged banks to participate in DeFi potentially stiffening innovation, creating concentration risks and creating barriers for general public to participate in crypto markets

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Revoked SAB 121 had particular negative implications for banks as it could make their balance sheet week therefore preventing them to custody crypto products

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