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,

While Trump’s pick to lead the SEC, Paul Atkins, is still awaiting US Senate confirmation, acting chair Mark Uyeda and another Republican commissioner, Hester Peirce, have put the regulator on a more crypto-friendly track, forming a task force and dismantling SAB 121.