A question on latest IFAB update

IFAB have announced the rules changes that apply from July (and also the World Cup). I get them all except the change to Law 4:

“Law 4 (The Player’s Equipment): Non-dangerous items will be permitted if safely and securely covered.”

Am I correct that this means that stud earrings will be permitted if taped? This would be earth shattering news for my u10 girls team.

Source: https://www.theifab.com/news/the-ifab-introduces-further-measures-to-improve-match-flow-and-player-behaviour/