current location: front page Blockchain

Galaxy Research: Analysis of SEC softening stance on SAB-121

Columns:Blockchain author:BTCZXW time:2024-09-14 15:56:38
🌈🫴👏Sign up to join UPTX and unlock new user benefits worth 6000+ USDT! 🌈🫴👏
  • 50 USDT Welcome Gift Package Complete the registration and meet the requirements to receive your exclusive 50 USDT bonus package! 🎯 Simple rules: Deposit or trade within 4 days after registration, and the bonus will be sent directly to your reward center!
  • 📱Open an account now to receive rewards: https://www.uptx.com/register?inviteCode=QZAVQG&uid=240629
  • ✅Experience funds can be traded but not withdrawn. If you have topped up, you can withdraw money if you win experience funds!

    In the crypto-asset space, recent policy developments have attracted widespread attention. The U.S. Securities and Exchange Commission (SEC) appears to have softened its stance on Employee Accounting Bulletin-121 (SAB-121), an important shift, according to analysis from Galaxy Research.

    image.png

    SEC Chief Accountant Paul Munter noted in a speech on September 9 that banks can circumvent SAB-121 if they obtain written permission from state regulators, specify the standards in their contracts and conduct regular risk assessments. hosting requirements. This exemption policy will significantly reduce the compliance burden on bank holding companies and introducing brokers, thereby facilitating their provision of digital asset custody services to customers.


    However, it is important to note that large national banks regulated by the Office of the Comptroller of the Currency (OCC) may still face challenges in meeting the conditions for exemption. Nonetheless, the relaxation of this policy is seen as a positive development for the crypto industry and digital asset adoption.


    As Alex Thorn, director of research at Galaxy, said, the change reflects adjustments made by the SEC in the face of pressure from lawmakers and market participants. We expect this development will bring further opportunities to the industry.


    Stay tuned with us for more in-depth analysis and updates on this topic.


    Unlock new user benefits worth 6000+ USDT
    • Register to join UPTX and unlock new user benefits worth 6000+ USDT!
    • Experience funds can be traded but not withdrawn. If you have topped up, you can withdraw money if you win experience funds!
    Official certification platform
    share to:
    read:381Second-rate

    I want to leave a message

      

    Classification