The U.S. Securities and Exchange Commission (SEC) has officially rescinded the controversial SAB 121 rule, which previously restricted banks from holding and providing custody for cryptocurrency assets like Bitcoin. This regulatory shift has been met with enthusiasm across Wall Street, as it eases the accounting burdens on banks wanting to engage in the crypto market. Analysts suggest this move not only signifies a new chapter in U.S. cryptocurrency regulation but also opens the floodgates for potential adoption of digital assets by traditional financial institutions. While some experts warn of the risks involved, many believe this change will lead to increased legitimacy and growth within the crypto space as banks are now explicitly permitted to custody these digital assets.