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What Does the SEC’s Crypto Rule Change Mean for You?
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Subscribe27 JAN 2025 / SEC UPDATES
The SEC has rescinded its crypto accounting rule SAB 121, which required banks to list clients' cryptocurrency assets as liabilities, and introduced SAB 122, encouraging firms to follow globally recognized accounting standards. This shift, which has been welcomed by financial firms and is expected to streamline crypto accounting and reporting, suggests the possibility of future crypto regulations aligning with international standards and indicates a potentially more crypto-friendly environment in the United States.
The SEC made waves in the crypto world by removing its controversial crypto accounting rule. SAB 121, which required banks to list clients' crypto assets as liabilities, has officially been scrapped. Now, with new guidelines in place, what does this mean...
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