According to Odaily, Anthony Rousseau, the Product Manager for Brokerage Solutions at TradeStation, emphasized the importance of traditional financial institutions, such as Morgan Stanley, entering the cryptocurrency space to facilitate more companies incorporating Bitcoin into their balance sheets. He highlighted that banks taking over the custody of cryptocurrencies is a crucial factor in this transition.

Industry experts are also advocating for changes in the accounting guidelines set by the U.S. Securities and Exchange Commission (SEC). Currently, these guidelines require publicly listed companies, including banks, to list cryptocurrencies held in custody as liabilities on their balance sheets. This requirement mandates that banks reserve assets of equivalent value to prevent losses and meet capital requirements.

Rousseau further noted that companies prefer to engage with the same counterparties they interact with in other asset classes. Therefore, the cryptocurrency infrastructure must evolve to allow companies to seamlessly integrate Bitcoin into their financial statements. This development is seen as essential for broader adoption and integration of Bitcoin into corporate financial strategies.

By Binance News

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