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 Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to ...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 published a new Staff Accounting Bulletin Thursday withdrawing its controversial SAB 121. SAB 121 directed banks and other public companies that they had 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The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on ...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 ...

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators. Two United States lawmakers have ...

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 ...