SAB 121 Has Been Rescinded, Allowing Banks To Custody Bitcoin. 🚀

Sec Cancels Controversial Bitcoin Accounting Rule SAB 121

The U.S. Securities and Exchange Commission published a new Staff Accounting Bulletin revoking SAB 121,

rules that governed how financial firms should hold crypto criticized by the industry.

Bye, bye SAB 121! It's not been fun: https://t.co/cIwUc0isUE | Staff Accounting Bulletin No. 122

— Hester Peirce (@HesterPeirce) January 23, 2025