The US Securities and Exchange Commission (SEC) has officially withdrawn Staff Accounting Bulletin No. 121 (SAB 121), a crypto accounting rule introduced in 2022, just days after SEC Chair Gary ...
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SEC officially rescinds anti-crypto SAB 121
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 ...
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 Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...
The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on ...
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 ...
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 ...
Two United States lawmakers have criticized crypto accounting guidelines outlined by the national securities regulator, arguing they places crypto customers at greater risk of loss. The guidelines ...
The AICPA has published a set of questions and answers that explains recently released SEC staff guidance regarding the accounting for entities that have obligations to safeguard cryptoassets held for ...
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