How Custody Banks are Dodging the SEC's Crypto Accounting Guidance

Also, the best and worst regulators -- according to J.D. Vance; Senate PSI sets second Zelle hearing

The banking industry-led campaign to overturn the SEC’s controversial crypto accounting guidance seemed to be dealt a fatal blow last week, when the House was unable to revive a bill nullifying the policy. But unbeknownst to many, a Plan B was already in the works.

The agency, it turns out, has been in discussions for months with a handful of large lende…