The Securities and Exchange Commission on Thursday repealed a cryptocurrency accounting directive that prevented banking institutions from providing custodial services for digital assets.
What happened: SEC commissioner Hester Peirce, who leads the recently formed cryptocurrency task force, announced the cancellation of the Staff Accounting Bulletin No. 121 policy, also known as Hester Peirce,
“Bye, bye SAB 121! It’s not been fun,” the commissioner also known as “Crypto Mom,” wrote.