SEC's rescission of SAB 121 allows major banks to offer Bitcoin custody services, entrenching Bitcoin globally.

From Nasdaq: 2025-01-28 12:04:20

In a significant regulatory shift, the rescission of SAB 121 by the SEC has opened the door for major banks like JPMorgan to offer Bitcoin custody services. Preston Pysh, a prominent Bitcoin advocate, believes this change could have more far-reaching implications than the concept of a Strategic Bitcoin Reserve. The move entrenches Bitcoin as a global settlement layer and enables financial innovations like loan products and derivatives tied to Bitcoin. While concerns about centralization exist, mechanisms like BlackRock’s in-kind redemptions offer a counterbalance. The next era of Bitcoin adoption is underway, with SAB 121’s rescission leading the charge.



Read more at Nasdaq: Preston Pysh Explains Why SAB 121 Beats a Strategic Bitcoin Reserve