SAB 121 rescinded: What it means for crypto custody and regulation in 2025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.
SAB 121 rescinded: A clear path to crypto custody and regulation in 2025, finally
SEC rescinds controversial SAB 121, replacing it with crypto-friendly SAB 122 to ease burdens on banks and crypto firms.
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 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The U.S. Securities and Exchange Commission has repealed Staff Accounting Bulletin ("SAB") No. 121, which required banks and other publicly-traded companies to account for customers' crypto assets on their balance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,
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,
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SEC withdraws accounting guidance on safeguarding crypto assets
The Securities and Exchange Commission has rescinded a Staff Accounting Bulletin on safeguarding cryptocurrency assets that ...
Positive Signs For Institutional Investment In Cryptocurrencies
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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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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 ...