In March 2022, the SEC issued SAB 121, which was designed to articulate the views of the SEC staff regarding the accounting for obligations to safeguard crypto assets an entity holds for platform ...

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 Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...

The US Securities and Exchange Commission (SEC) has officially withdrawn Staff Accounting Bulletin No. 121 (SAB 121), a crypto accounting rule introduced in 2022, just days after SEC Chair Gary ...

Today, the Securities and Exchange Commission (SEC) has pulled the plug on Staff Accounting Bulletin No. 121 (SAB 121), a rule that had tied crypto companies in regulatory knots since 2022. This ...

Following approval in the House earlier this month, the US Senate has voted on and approved HJ Res. 109, which overturns the SEC’s Staff Accounting Bulletin (SAB) 121 under the Congressional Review ...

The U.S. Securities and Exchange Commission (SEC) was out of bounds when it issued its controversial "Staff Accounting Bulletin 121," according to the Government Accountability Office (GAO), and ...

Reversal of SAB 121 allows banks to offer Bitcoin-backed loans, making it easier for holders to access capital without selling their assets, says BitLab Director Kelly Kellam. Kelly Kellam, Director ...

Senate Majority Leader Chuck Schumer, D-N.Y., joined many of his Democratic colleagues in voting to approve a Congressional Review Act resolution to nullify a crypto custody guidance from the ...

Issued on March 31, 2022, SAB 121 required public companies holding crypto on behalf of their customers to record customer-held crypto assets on their balance sheets as both an asset and a ...

The Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 121 (“SAB 121”) 1 on March 31, 2022. SAB 121 provides SEC staff’s views regarding accounting treatment of ...

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 ...