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BREAKING: SEC Finally Realizes They’re Not the Only Ones Who Can Be Mean and Now All Cryptos Are Crying

A  of a giant bank vault door creaking open with various cryptos (represented by colorful coins and tokens) spilling out, while in the background, a stern-looking figure (representing the SEC) is shown slumping against a wall, looking defeated.

SAB-121 Softening? More like Crypto Industry Whining.

Source: cointelegraph

During a speech on Sept. 9, Paul Munter, chief accountant for the United States Securities and Exchange Commission, appeared to backpedal on the SEC’s Staff Accounting Bulletin-121 (SAB-121) measures limiting banks from providing digital asset custody services to clients. According to an analysis from Galaxy head of research Alex Thorn, Munter provided exemption criteria that would allow bank holding companies and introducing brokers to circumvent the custody provisions laid out […]

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