House Financial Services Committee Advances Bill to Repeal SEC Bulletin Preventing Banks From Offering Crypto Custody Services
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The House Financial Services Committee of the U.S. Congress has advanced a resolution that seeks to disavow SEC SAB 121, a bulletin that leaves banks and financial institutions out of the cryptocurrency custody provider market. However, the resolution, advanced with bipartisan support, is unlikely to be passed at a vote on the House floor, according […]
A new accounting bulletin published on the US Securities and Exchange Commission’s website states that companies that offer crypto custody services should account for crypto assets as liabilities on... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go to Source…
Coinbase is again nudging US regulators to allow the traditional banking sector to interact with the crypto industry. The exchange sent a correspondence to three top US bank watchdogs, seeking their endorsement to foster partnerships between financial institutions and crypto companies. As Bloomberg reported, the letter urged the regulators to…
North Carolina’s Representative Patrick McHenry, an incoming chair of the House Financial Services Committee, has reintroduced a crypto bill. The reinstatement of the Financial Services Innovation Act McHenry, who had pushed the Financial Services Innovation Act in 2016 and 2019, announced on Dec. 19 that the act will be reintroduced.…