JUST IN: The SEC rescinds SAB 121, clearing the way for financial institutions to custody Bitcoin.
SAB 121 had required banks to treat customer-held crypto as liabilities, imposing heavy capital requirements.
Its removal now encourages banks to offer BTC custody services.
Sounds like they are eyeing the Silk Road Bitcoin to start the reserve
“The Working Group shall evaluate the potential creation of a national digital asset stockpile… potentially derived from cryptocurrencies lawfully seized by the Federal Government”
🇺🇸 Senator Cynthia Lummis takes the helm as chair of the Senate Banking Subcommittee on Digital Assets—a major leap toward establishing a Strategic Bitcoin Reserve.
JUST IN: Senator Lummis is picked to chair the Senate Banking Subcommittee on Digital Assets stating, "Congress needs to urgently pass bipartisan legislation establish a comprehensive legal framework... that strengthens the dollar with a strategic bitcoin reserve."
