SAB 121 required banks to recognize bitcoin/digital assets as liabilities on their balance sheet. Under SAB 121 banks would need to hold a corresponding asset to match the liability, which is something banks would rather not do.

Check it out on YouTube ⬇️

https://youtube.com/shorts/fv_bG8I3Zzs?si=E1HtQ-xlvfJ2rumj

#banking #bitcoin #sab121