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 ...

The US Securities and Exchange Commission (SEC) has officially withdrawn Staff Accounting Bulletin No. 121 (SAB 121), a ...

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 Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...

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 ...

Preston Pysh explains how the rescission of SAB 121 could permanently entrench Bitcoin into the financial system, surpassing the importance of a Strategic Bitcoin Reserve. In the rapidly evolving ...

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 ...

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 ...

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 ...

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 ...

As the U.S. Securities and Exchange Commission (SEC) Chair keeps chasing non-compliance in crypto, his agency was slammed by the watchdog Government Accountability Office (GAO) for its own compliance ...