SAB 121 has been chasing large banks and brokers away from the crypto sector, said Paul McCaffery, who works as a managing director focusing on digital assets at Keefe, Bruyette & Woods, a banking firm that services the financial sector. When people can’t find a regulated home for their assets, they go to the unregulated firms that are more prone to disaster, he argued.
Bitcoin (BTC) Prices Could Hit Highs of $74K as Selling Pressure Eases, Traders Say
“Short-term Bitcoin holders are selling at basically zero profit and traders are depleting their unrealized profits in the last few...