In a recent speech, SEC Chief Accountant Paul Munter hinted at easing the Staff Accounting Bulletin-121 (SAB-121) restrictions, which initially limited banks from providing digital asset custody services. Munter outlined exemption criteria that would allow bank holding companies and introducing brokers to bypass the SAB-121 requirements, such as obtaining state regulator approval and conducting risk assessments. While large national banks remain largely restricted, this move is seen as a positive shift for the crypto industry. Galaxy's Alex Thorn suggested the SEC may not have intended SAB-121 to apply to banks initially, leading to a reevaluation of its scope. Source: Cointelegraph
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