SEC Tightens Crypto Custody Rules! 🚨

- SEC Accounting Chief Paul Munter Reaffirms Agency's Position on SAB 121 Is Unchanged

- The rule requires financial institutions to record crypto asset liabilities on their balance sheets.

- This effectively prevents banks from storing crypto for clients.

- ETF Store President Nate Geraci: "The SEC Doesn't Want Regulated Financial Institutions to Be Able to Store Crypto."

Source: Nate Geraci