(Reuters) – The US Securities and Stock Exchange Commission withdrew on Thursday accounting guidelines that have long opposed the cryptocurrency industry, which was an early step in turning President Donald Trump from the policy of the previous administration and victory for the cryptocurrency sector.
In the notification posted on his website, the Secus said that the guidelines for 2022 were known as Staff Accounting Bulletin 121, which was prevented by the legislators from the then President Joe Biden to cancel in May last year.
Crypto -industry and legislators who have been friendly according to the Crypto currency have long opposed the extent, which demanded from companies holding custody of digital property on behalf of others to record them as obligations, increasing the costs of this.
Former President of the Securities Council (SEC) Gary Gensler, who resigned on Monday, stated that it was necessary to protect investors in the bankruptcy case, who, he said, are common in the sector.
The banking sector welcomed the withdrawal of the guidelines.
“Today’s decision returns to banks the ability to serve as a reliable and safe option for clients who decide to keep digital property,” Paige Pidano Pedano Pidano Pidano Pidano, co -manager of regulatory affairs at the Institute of Bank Policy.
Sec announced this week the formation of a crypto working group led by Republican commissioner Hester Peirce. In the post on the social platform X on Thursday, Peirce welcomed the decision: “Goodbye, Sab 121! There was no fun!”
