Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
FxWirePro- Major Crypto levels and bias summary 
China vs. NASA: The New Moon Race and What's at Stake by 2030 
Britain Courts Anthropic Amid US Defense Department Dispute 
Australia's Social Media Ban for Under-16s Sparks Global Movement 
FxWirePro- Major Crypto levels and bias summary 
Anthropic's Mythos AI Model Sparks Emergency Cybersecurity Meeting With Top U.S. Bank CEOs 
Bitcoin’s Islamabad Watch: BTCUSD Consolidates Near 71,421 USD as Geopolitical Peace Talks Loom 
Bitcoin’s Volatile Reset: ETFs Rebound as Bulls Eye USD 80,000 Milestone 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Foreign Investors Pour $18.65 Billion into Japanese Stocks Amid Market Stabilization 
Apple's Foldable iPhone Faces Engineering Setbacks, Mass Production Timeline at Risk 
SpaceX Eyes Historic IPO at $1.75 Trillion Valuation 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
Michael Saylor, CEO of MicroStrategy, has stirred the crypto world by revealing credible rumors that major US banks may soon provide Bitcoin custody services, potentially revolutionizing the intersection of traditional finance and digital assets.
Michael Saylor, CEO of MicroStrategy, has revealed that large US banks would soon be able to hold Bitcoin in custody.
MicroStrategy's Michael Saylor Drops Bitcoin Custody Rumor
"Credible rumors are circulating that one or more major banks in the US will soon be able to custody Bitcoin," stated Saylor.
Saylor spread the word when BNY, a multinational financial services firm, got a waiver from the SEC's contentious SAB 121 rule. At a meeting of the Wyoming Select Committee on Blockchain Innovation, the announcement was made.
SEC Faces Pushback From Crypto Supporters
Banking institutions are required to include custodial digital assets in their own balance sheets under the SAB 121 rule, which has faced strong opposition from the cryptocurrency industry.
Representative Ritchie Torres (NY-15) and others who support cryptocurrency say the regulations limit innovation and go against basic accounting concepts. During a recent congressional session, Torres stated, "The SEC is effectively ordering companies not to experiment with blockchain technology."
Bitcoin Custody Rules Divide Lawmakers and Regulators
Crypto proponents claim that the rule's sole purpose is to prevent large regulated financial institutions from offering financial custody services, as reported by U.Today.
On the other hand, a series of high-profile crypto bankruptcies were used by SEC Chair Gary Gensler to justify the stance. The measure has also been supported by certain lawmakers who are against crypto.
Strong Lobby Efforts to Change SEC Guidance
In an effort to circumvent the contentious SEC guidance, the cryptocurrency lobby was making a strong showing. May saw a vote in the Senate to repeal the contentious regulation. According to Saylor, this is why the United States "wants Bitcoin." Obviously, this wasn't enough to remove the clause.
Whether or not the courts will ultimately overturn the rule is an open question.
