SAB 121 axed: SEC repeals crypto accounting rule as Trump era dawns

The US Securities and Exchange Commission (SEC) has officially withdrawn Staff Accounting Bulletin No. 121 (SAB 121), a ...
Crowdfund Insider

Damaging SEC Staff Bulletin that Undermined Digital Assets, SAB 121, Revoked

SEC Staff Accounting Bulletin (SAB) 121 is no more. Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...
Seeking Alpha

SEC repeals SAB 121 accounting rule for crypto financial reporting

The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on ...
Crowdfund Insider

Republicans Tell SEC to Rescind Staff Accounting Bulletin (SAB) 121 that Targets Digital Asset Custody

Representative Patrick McHenry, Chairman of the House Financial Services Committee, and Senator Cynthia Lummis have sent a letter demanding the Securities and Exchange Commission rescind Staff ...
CoinTelegraph

SEC cancels controversial crypto accounting rule SAB 121

The US Securities and Exchange Commission has revoked a rule that discouraged financial firms from holding crypto, by requiring them to record digital assets as liabilities on their balance sheets.
CoinTelegraph

Biden may rethink SAB 121 vote veto due to political support for crypto

On May 16, 2024, a majority of lawmakers in the United States Senate passed a Congressional Review Act (CRA) to review the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 ...