Banksters Tell Biden, “Thanks But No Thanks, We Want In On This Bitcoin Industry”!

As Bitcoin Rallies, Banks Are Pushing US Regulators To Allow Bitcoin Custody And ETF Products For Clients

US Banking lobby last-minute bid to stop biden vetoing SAB 121 overturn.

“Precluding regulated banking organizations from effectively providing digital asset safeguarding services at scale harms investors, customers, and ultimately the financial system,” the ABA wrote in a May 31 letter to Biden, just before he announced his decision to veto the Congressional resolution aimed at repealing the U.S. Securities and Exchange Commission (SEC) SAB 121 guidelines.

“The SAB 121 represents a significant departure from longstanding accounting treatment for custodial assets and threatens the industry’s ability to provide its customers with safe and sound custody of digital assets,” the ABA explained.

“Limiting banks’ ability to offer these services leaves customers with few well-regulated, trusted options for safeguarding their digital asset portfolios and ultimately exposes them to increased risk,” it added.

Remainder Of The Article: As Bitcoin Rallies, Banks Are Pushing US Regulators To Allow Bitcoin Custody And ETF Products For Clients: https://dpl-surveillance-equipment.com/bitcoin-and-crypto-currency/as-bitcoin-rallies-banks-are-pushing-us-regulators-to-allow-bitcoin-custody-and-etf-products-for-clients/