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Any major bank to report failure or bankruptcy due to crypto holdings by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from banks and financial news reports
Story
SEC Allows Banks to Exclude Crypto Holdings from Balance Sheets, Mandates Risk Offsets
Jul 11, 2024, 09:26 PM
The SEC has allowed several large banks and brokerages to bypass strict balance sheet reporting requirements on crypto holdings. This move enables these financial institutions to exclude their customers' crypto assets from their balance sheets, provided they ensure the assets are protected in the event of bankruptcy or failure and mandate risk offsets. The decision, approved by SEC staff, aims to address the controversial SAB 121 rule, which had disrupted traditional bank custody rules by targeting digital assets. Representative Patrick McHenry criticized the SEC's decision, arguing that it represents an unsound public policy by giving banks a special carveout.
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Similar markets
Yes • 50%
No • 50%
JP Morgan Chase • 25%
Bank of America • 25%
Wells Fargo • 25%
Other • 25%
JPMorgan Chase • 25%
Goldman Sachs • 25%
Bank of America • 25%
Citibank • 25%
Yes • 50%
No • 50%
JPMorgan Chase • 25%
Goldman Sachs • 25%
Bank of America • 25%
None • 25%
Yes • 50%
No • 50%
JP Morgan Chase • 25%
Bank of America • 25%
Wells Fargo • 25%
Citibank • 25%
BNY Mellon • 25%
State Street • 25%
Goldman Sachs • 25%
None of the above • 25%
BlackRock • 25%
Fidelity • 25%
Vanguard • 25%
Other • 25%
Policy reversal • 25%
Continued restrictions • 25%
New regulations • 25%
No change • 25%