SEC’s Secret Bank Exemptions for Crypto Custody: Favoritism or Risk Management?

The U.S. Securities and Exchange Commission (SEC) has reportedly exempted certain banks from mandatory disclosure requirements under Staff Accounting Bulletin No. 121 (SAB 121), a controversial crypto banking regulation. SAB 121 requires publicly traded banks, such as JP Morgan Chase, Bank of New York Mellon, and Citi, to disclose their crypto custody services. Critics, including […] source: https://coinedition.com/secs-secret-bank-exemptions-for-crypto-custody-favoritism-or-risk-management/