Withdrawal of SAB 121 simplifies crypto custody regulations, increasing trust in traditional financial institutions

From Cointelegraph

January 24, 2025 8:55 am:

The withdrawal of SAB 121 has led to the introduction of SAB 122, aimed at simplifying crypto custody operations. This move is expected to increase trust in traditional financial institutions providing cryptocurrency services.

SAB 122 is designed to enhance the regulatory framework surrounding cryptocurrency custody, making it easier for traditional financial firms to offer crypto-related services. This streamlining of operations is seen as a positive step towards bridging the gap between traditional finance and the digital asset space.

Read more at Cointelegraph: SAB 121 rescinded: What it means for crypto custody and regulation in 2025