The SEC has finally repealed the controversial SAB 121 directive, which made the custody of $BTC (+1,43%) and cryptocurrencies virtually impossible for traditional banks in the USA. This has resulted in a kind of monopoly position for $COIN (-7,38%) which therefore, for example, all $BTC (+1,43%) of the spot ETFs and $MSTR (-2,3%) were allowed to store them. This will most likely change in the future.
Furthermore, loans collateralized with Bitcoin will now be possible, which could be another potential price driver.
This directive should have been repealed last year. However, President Joe Biden vetoed it shortly before it was due to take effect.
