The notice from SEC staff wasn’t legally binding, but companies tend to take such guidance as writ rather than suggestion.

The Securities and Exchange Commission reversed a controversial accounting rule Thursday, which had helped deter banks from participating in crypto services. Why it matters: The move to rescind the guidance,

Wall Street’s securities watchdog has made it easier for banks to expand their cryptocurrency businesses by overturning a Biden administration rule that made it prohibitively expensive to hold digital assets.