SEC ‘dug in’ on bank crypto custody rule as agency’s stance ‘unchanged’

SEC chief accountant Paul Munter said agency staff views on a divisive rule curtailing banks from offering crypto custody services “remain unchanged.”

The United States Securities and Exchange Commission has seemingly “dug in” on its stance on a rule that would curtail crypto custody services for regulated financial firms.

In a Sept. 9 address to a banking conference, SEC chief accountant Paul Munter discussed the agency’s regulatory stance on accounting for crypto assets, focusing on SEC Staff Accounting Bulletin No. 121 (SAB 121) and its applications.

“The [SEC] staff’s views in SAB 121 remain unchanged,” he said. 

Read more

SEC chief accountant Paul Munter said agency staff views on a divisive rule curtailing banks from offering crypto custody services “remain unchanged.”
The United States Securities and Exchange Commission has seemingly “dug in” on its stance on a rule that would curtail crypto custody services for regulated financial firms.In a Sept. 9 address to a banking conference, SEC chief accountant Paul Munter discussed the agency’s regulatory stance on accounting for crypto assets, focusing on SEC Staff Accounting Bulletin No. 121 (SAB 121) and its applications.“The [SEC] staff’s views in SAB 121 remain unchanged,” he said. Read more