Boonkis (boonkis)

📰 Key Developments: SEC and Digital Assets in Banking (April 2025) 1. New SEC Leadership Advocates for Clear Crypto Regulations • Paul Atkins, the newly appointed SEC Chairman, has emphasized the necessity for transparent regulatory guidelines for the cryptocurrency industry. He criticized previous leadership for creating “regulatory uncertainty” that hindered innovation. Atkins is expected to adopt a more crypto-friendly approach compared to his predecessor, Gary Gensler. 2. Rollback of Crypto Accounting Mandate • The SEC has rescinded Staff Accounting Bulletin No. 121, which previously required banks to classify customers’ crypto assets as liabilities on their balance sheets. This change reduces the capital reserve burdens for banks, potentially encouraging them to offer crypto custody services.

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Amazing info

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