SAB 121, crypto

SAB 121 rescinded: What it means for crypto custody and regulation in 2025
What was SAB 121? The Staff Accounting Bulletin (SAB) 121 rule was introduced by the SEC in March 2022 as part of its efforts to regulate cryptocurrency custody. It required financial institutions to list any crypto assets they held on behalf of customers as liabilities on their balance sheets.
SEC scraps SAB 121 rule, easing crypto custody accounting for banks
SEC revises crypto custody accounting policy with SAB 122, offering banks flexibility in reporting liabilities for safeguarding assets.
SEC Commissioner Hester Peirce Says Goodbye to Controversial Crypto Accounting Guidance SAB 121
Vanessa A. Countryman, Secretary of the SEC, confirmed that SAB 122 has officially replaced SAB 121 in the regulatory framework.
SEC officially rescinds anti-crypto SAB 121
Today, the Securities and Exchange Commission (SEC) has pulled the plug on Staff Accounting Bulletin No. 121 (SAB 121), a rule that had tied crypto companies in regulatory knots since 2022. This decision,
SEC revokes controversial rule preventing banks from custodying crypto
The SEC revoked the controversial SAB 121 rule, which prevented banks and financial institutions from custodying crypto. The regulator introduced a new bulletin known as SAB 122, which allows financial institutions to manage clients’ crypto holdings. SAB 122 adds to the list of reforms being introduced by President Donald Trump's administration.
SEC Withdraws SAB 121 Crypto Accounting Rule, Issues New Guidance
The SEC has replaced its strict crypto custody accounting rule SAB 121 with more flexible guidance under SAB 122, allowing banks to use standard accounting principles for digital assets and potentially expanding their ability to offer crypto custody services.
SEC Rescinds Controversial Rule on Crypto Assets
Efforts to overturn SAB 121 gained bipartisan support in Congress last year, although a veto from then-President Joe Biden left the measure intact, further hindering banks from expanding their crypto offerings.
SEC repeals SAB 121 accounting rule for crypto financial reporting
The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on their balance sheets,
Bitcoin Price Climbs on Inauguration Day Followed by High-Profile Pardons, SEC Reforms & Dangerous Crypto Kidnapping
Bitcoin soars to $108,899 on inauguration day, followed by Ross Ulbricht’s pardon, new SEC crypto regulations, legislative ...
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SEC Clears the Way for Crypto Custody
On January 23, 2025, barely 72 hours after the appointment of Mark Uyeda as the Acting Chairman of the U.S. Securities and Exchange Commission, ...
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Damaging SEC Staff Bulletin that Undermined Digital Assets, SAB 121, Revoked
SAB 122 rescinded the guidance of SAB 121 - the bulletin that "expressed the views of the staff regarding the accounting for obligations to safeguard ...
US SEC withdraws SAB 121
SAB 121 mandated that crypto custody providers and exchanges recognise customer holdings as both assets and liabilities.
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SEC Repeals SAB 121
The U.S. SEC has officially repealed SAB 121, which previously restricted banks from offering crypto custodial services.