Regulation
As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance
- Letter comes during renewed push in Congress to repeal rule
- SEC wants banks to count crypto held for clients as liability
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Powerful interest groups are pushing the Securities and Exchange Commission to tweak accounting guidance that makes it more expensive for US banks to hold digital assets for their customers.
The regulator is already facing pressure from both Democrats and Republicans in Congress to repeal the guidance.