“SAB 121 effectively precludes regulated banking organizations from offering digital asset custody at scale since it treats the assets as if they are owned rather than simply custodied by a banking organization,” according to a letter to Biden on Friday, signed by several groups including the American Bankers Association and Financial Services Forum. “Institutions that are forced to record custodied digital assets on balance sheet are subjected to higher capital, liquidity, and other prudential requirements, unlike their non-bank competitors.”
Bullshot Secures $7.5M Backing from Leading Web3 Investors to Power the Next Generation of Meme Token Creation
Bullshot, a next-generation meme token launcher built on BNB Chain, is redefining how communities create, trade, and scale viral tokens....
