The SEC Revokes SAB 121: Is Ethereum The Big Winner?
The SEC has just revoked the accounting bulletin SAB 121, lifting the constraints on financial institutions in the United States. This decision now paves the way for increased adoption of DeFi services and strengthens Ethereum’s position in the crypto landscape. With these changes, Ethereum could see an explosion of interest from investors, and could soon reach $7,000!
Crypto: The SEC cancels SAB 121!
Recently, the Securities and Exchange Commission (SEC) revoked the accounting bulletin SAB 121, which has sparked renewed interest in Ethereum (ETH). This bulletin, introduced in March 2022, required financial institutions to record cryptocurrencies as liabilities on their balance sheets, which had hindered the adoption of cryptocurrency-related services. The revocation of SAB 121, replaced by SAB 122, now allows financial institutions to manage their clients’ crypto holdings without these constraints.
The abolition of SAB 121 has been perceived as a positive signal for institutional investors, who may now be more inclined to offer cryptocurrency-related services, such as staking and cross-margin borrowing using crypto assets as collateral. This decision has been welcomed by the crypto community, particularly by Markus Thielen of 10x Research. He emphasized that this regulatory evolution could catalyze the expansion of DeFi services, positioning Ethereum as the backbone of the ecosystem.
Ethereum at $7,000 very soon?
This evolution, combined with an increase in stablecoin flows and a favorable regulatory environment, could propel Ethereum to new heights. Especially since ETH currently presents a “tactical breakout” opportunity. This formation shows potential for a breakout above the triangular pattern! This offers a low-risk, high-reward opportunity, with forecasts reaching an inevitable price of $7,000 according to experts.
The revocation of SAB 121 by the SEC and its replacement with SAB 122 therefore marks a decisive turning point for Ethereum. This decision, coupled with tactical trading opportunities and increased political support, could not only stimulate the adoption of DeFi services but also lead to a significant rise in the price of ETH.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
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