JUST IN: U.S. SEC rescinds Staff Accounting Bulletin 121
The controversial SAB 121 guidance imposed strict accounting requirements on firms seeking to custody digital assets on behalf of customers, requiring them to list 'digital assets' as liabilities. This potentially paves the way for U.S. financial institutions to custody bitcoin and other cryptocurrencies.
121 and 122 are not the same number.
122 rescinds 121
So 121 doesn't need to be mentioned directly?
it does
"Amend the table in Subpart B by deleting the entry for Staff Accounting Bulletin No. 121 and adding an entry for Staff Accounting Bulletin No. 122 at the end of the table" per https://archive.ph/mkjfa#selection-1877.0-1877.189
Awesome, thanks.
This is the real big news of the day.
Not tired of winning. Keep em coming.
Also don't use KYC
FREEDOM!!!
