U.S. banks open their doors to #Bitcoin and other cryptocurrencies.

The U.S. SEC, under the new leadership of Mark Uyeda, has revoked rule #SAB121 that restricted banks from offering custody services for cryptocurrencies like $BTC $ This decision, effective retroactively from January 2025, paves the way for financial institutions to now provide these services.

However, the #SEC emphasizes that banking entities still must comply with existing regulations regarding transparency and protection of their clients' assets. This implies that they must provide investors with clear information on how their cryptocurrencies will be managed and protected.

In essence, this measure represents a significant step towards greater integration of cryptocurrencies into the traditional financial system of the United States.