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SEC revokes unpopular banking rule that blocked Wall Street banks from adopting crypto

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Summary
Nutrition label

72% Informative

Rule forced banks to treat bitcoin and other tokens as a liability on their balance sheets.

Rule was introduced in 2022 and subjected digital assets to strict capital requirements.

Measure significantly raised the financial and regulatory risks of offering crypto custody services.

Efforts to overturn the rule gained bipartisan support in Congress last year , but then-President Joe Biden vetoed the proposed legislation.

VR Score

78

Informative language

79

Neutral language

71

Article tone

formal

Language

English

Language complexity

62

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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