The bold step taken by the Securities and Exchange Commission to cancel the SAB 121, opens the field of coding currencies for the Wall Street banks

• The Securities and Exchange Commission removes the accounting base, allowing banks to keep digital assets
• The SAB 121 reversal reversal and expansion of the Curricula is enhanced in Wall Street.
• The new coding team of the Securities and Stock Exchange to direct a more clear organizational path

The last step taken by the Securities and Exchange Commission to cancel the SAB 121 turns to the Wall Street relationship with digital assets. As this rule is raised now, major banks are preparing to expand digital asset services and reshape the market scene.

The Securities and Stock Exchange reflects the base and gives the green light to Wall Street banks

The US Securities and Stock Exchange (SEC) reflected the employees accounting Bulletin base 121 (SAB 121) that hindered Wall Street banks to keep encrypted currencies. The decision is a shift in the organizational scene, which paves the way for increasing participation in the encrypted currency sector. The Securities and Exchange Commission removed a major barrier that was preventing banks from providing digital asset services.

SABB 121Which was presented in 2022, banks are required to deal with digital assets as obligations in their public budgets when providing encrypted currency services. This rule imposed high capital requirements and an increase in operating costs, making the management of large quantities of digital assets expensive for financial institutions. This list prevented many banks from expanding their digital asset offers, such as conservation and transactions, to customers.

The effect of driving changes on the decision of the Securities and Exchange Commission

The Securities and Exchange Commission step comes after a continuous batch of encrypted currency industry to cancel the base. Last year, the efforts of the two parties in Congress sought to cancel SAB 121, although President Joe Biden used the veto against the proposal. However, the growing momentum for reshaping digital asset regulations has gained momentum, which led to the decision of the Securities and Exchange Commission this week.

Hyster Peres, the Securities and Exchange Commissioner, in favor of encrypted currencies, celebrated this announcement. She had expressed her strong opposition to SAB 121, and recently mail On the day of x, Pears expressed his satisfaction to cancel it. Pierce was assigned to lead a new work team of encrypted currencies from the Securities and Exchange Commission, aiming to develop a clear organizational framework for digital assets.

This change comes a few days after the departure of the former head of the Securities Authority and Stock Exchange Gary Ginsler on January 20. Jinsler, a strong defender of the most striking digital asset regulations, defended the accounting base as necessary to protect investors. His resignation is likely to reshape the regulatory approach to digital assets, especially since the administration of President Donald Trump is seeking to embrace the growth of digital assets.

SAB 121 Reflection effect

The decision of the Securities and Stock Exchange is expected to have a significant impact on Wall Street’s participation in the encrypted currency industry. The major banks, such as Goldman Sachs, Morgan Stanley and Bank of America, have previously indicated that they could integrate cryptocurrencies if organizational conditions improved. The executive presidents of these institutions have expressed their optimism that the most appropriate organizational environment can enable them to expand their digital assets.

The new approach to the Securities and Exchange Authority indicates an opportunity for Lall Street to enhance its position in the fast -growing digital assets market. Financial institutions may expand their digital asset services due to low barriers. The decision is likely to enhance innovation and investment in digital assets, which increases the integration of digital assets into traditional financial markets.

The opposite of SAB 121 paves the most clearer paths to banks to improve the institutional adoption of digital assets.