Market
Market share of U.S. banks in Bitcoin custody by end of 2025?
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Resolution / Starting Odds
Less than 10% • 25%
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Financial reports and market analysis from reputable financial institutions
Story
SEC Issues SAB 122, Rescinds SAB 121 to Allow Banks to Custody Bitcoin
Jan 23, 2025, 11:04 PM
The U.S. Securities and Exchange Commission (SEC) has officially rescinded Staff Accounting Bulletin No. 121 (SAB 121) by issuing SAB 122, allowing banks to custody cryptocurrencies such as Bitcoin. This significant regulatory change removes previous hurdles that made it difficult and costly for U.S. banks to offer crypto custody services. The rescission must be fully retrospectively applied in annual financial statements for periods beginning after December 15, 2024. Industry observers believe this move lays the groundwork to make the United States the crypto capital. The change is expected to pave the way for traditional financial institutions to enter the crypto custody market, potentially accelerating the adoption of digital assets in the United States.
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