Will Biden Get the Final Say Over a Controversial Crypto Accounting Rule?

Crypto advocates see the rule as onerous and capital intensive, and, interestingly, so do banks and other financial incumbents. In February, major banking and securities industry bodies including the Bank Policy Institute (BPI), American Bankers Association (ABA), Financial Services Forum (FSF) and the Securities Industry and Financial Markets Association (SIFMA) wrote a letter to the SEC asking for amendments to the bulletin’s requirements.