<ul><li>SEC Commissioner Hester Peirce criticized SAB 121, labeling it as a pronouncement rather than a properly passed policy.</li><li>Peirce argued that SAB 121 restricted traditional financial institutions from offering crypto custody services, limiting competition and innovation in the space.</li><li>Peirce supports the repeal of SAB 121 to allow a wider range of custodians, including traditional and crypto-native institutions, for better asset safety and investor protection.</li><li>The debate around regulating crypto custody, especially concerning banking access and capital requirements, continues in Washington amid the push to overturn SAB 121.</li></ul>

SEC’s Hester Peirce Criticizes SAB 121, Supports Broader Crypto Custody Access

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