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The US Securities and Exchange Commission (SEC) has officially withdrawn Staff Accounting Bulletin No. 121 (SAB 121), a ...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

SEC rescinds SAB 121 - What it Means for Financial Institutions and Crypto Exchanges

Controversial Securities and Exchange Commission accounting guidance known as SAB 121 has been rescinded. SAB 121 has been viewed as a significant obstacle preventing banks from providing custody ...
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 Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...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The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on ...
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 ...