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 ...

He claimed that repealing SAB-121 would have undermined the SEC's effectiveness as a financial regulator. Magazine: Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower ...

The SAB 121 development comes after Trump signed executive orders, halting progress on central bank digital currencies and exploring the case of a Bitcoin BTC/USD reserve.

The controversial SAB 121 rule, which former SEC Chair Gary Gensler backed, led to increased capital reserve obligations as it required lenders to recognize client-held crypto on their balance sheets.

SAB 121 is one of the most glaring examples of the regulatory overreach that has defined Gary Gensler’s tenure at the SEC.” Today, the two Republicans have sent a letter to SEC Chair Gary ...

BTC above $150K is ‘speculative fever,’ SAB 121 canceled, and more: Hodlers Digest, Jan. 19 – 25 A crypto analyst says if Bitcoin goes above $150,000, "we will go back down through it," the ...

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 Today, SAB 122 rescinded the guidance of SAB 121 - the bulletin that "expressed the views of the staff regarding the accounting for obligations ...

Crypto Industry Supports SAB 121. According to CoinDesk, SAB 121 is SEC accounting guidance that will allow financial institutions that keep cryptocurrencies for customers to keep these digital ...

The rescission of SAB 121 by the SEC staff follows a legislative attempt in 2024, which received bipartisan support in passing the U.S. House and Senate, but was vetoed by President Biden.

Kelly Kellam, Director at BitLab Academy, said the reversal of SAB 121 will make it easier for banks to lend against Bitcoin, just like they do with real estate. “If we get the SAB 121 change ...

Last week, the US Securities and Exchange Commission (SEC) announced the withdrawal of its Staff Accounting Bulletin (SAB) 121. The rule had required reporting entities that act as custodians for ...

Bye, bye SAB 121! SEC Commissioner Hester Peirce, the agencys crypto task force lead, wrote in a Jan. 23 X post. Its not been fun.The SEC published SAB 121 in March 2022, ...