- This topic has 4 replies, 2 voices, and was last updated 8 months ago by Eislemike.
- Thursday, March 31st, 2022 at 21:33 #205959sandygwsParticipant
U.S. SEC says crypto safekeeping arrangements should be treated as liability | ReutersThursday, March 31st, 2022 at 21:33 #205960saminorci
This only applies to companies.
In a way, they are not wrong. Any potential hacks, bugs, or maybe losing access to wallets can have a big impact on the companies balance sheets.Thursday, March 31st, 2022 at 21:33 #205961TNJCrypto
The most risk of participating in crypto comes from agencies like the SEC interfering as the evaluator of legitimacy. Essentially “crypto is a liability because if we [the agency] decide to criminalize it then you lose”Thursday, March 31st, 2022 at 21:33 #205962coinfeeds-bot
tldr; The US Securities and Exchange Commission (SEC) has said that listed companies that hold cryptocurrencies on behalf of users and customers should account for those assets as a liability on their balance sheet and disclose the related risks to investors. The SEC said there are “significant” technological, legal and regulatory risks associated with safeguarding crypto-assets and as a result they should be reflected as liability on companies’ balance sheets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Thursday, March 31st, 2022 at 21:33 #205963Eislemike
I imagine there are a couple countries(and Canadians lol) thinking that about their treasuries now.
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