The withdrawal of SAB 121 comes amid several leadership changes at the SEC. Republican Commissioner Mark Uyeda has assumed the role of acting chair, while a new crypto task force led by Hester ...

The SEC has rescinded SAB 121, removing barriers for banks to custody Bitcoin and crypto, signaling a major shift in crypto regulation. In a landmark decision, the U.S. Securities and Exchange ...

9, Paul Munter, chief accountant for the United States Securities and Exchange Commission, appeared to backpedal on the SEC’s Staff Accounting Bulletin-121 (SAB-121) measures limiting banks from ...

While assets held under a custodial or trust arrangement are generally not reported on the balance sheet of the custodian, SAB 121 indicated that SEC staff expected crypto assets to be recorded as ...

SAB 121 Finally Dumped In a new staff accounting bulletin published Thursday, the SEC rescinded "the interpretive guidance included in Section FF of Topic 5 in the Staff Accounting Bulletin Series ...

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 ...

A summary of notable developments in SEC crypto and digital asset regulation under the second Trump administration.

Despite being overturned by Congress, SAB 121 remained effective due to a veto by former President Joe Biden. The shift under acting SEC chair Mark Uyeda is seen as a nod to President Donald Trump ...

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SAB 121- which was implemented in 2022- was also overturned by Congress, but was kept in place by a veto by former President Joe Biden. “Bye, bye SAB 121! It’s not been fun,” SEC ...

In a landmark decision, the U.S. Securities and Exchange Commission (SEC) has officially rescinded Staff Accounting Bulletin (SAB) No. 121, a controversial rule that had long hindered banks from ...