News with the tag "Sab 121"

In the rapidly evolving world of Bitcoin adoption, few regulatory shifts carry the magnitude of SAB 121’s recent rescission. According to prominent Bitcoin advocate and investor Preston Pysh , this development is a watershed moment that could have more far-reaching implications than even the much-de...

The abolition of Staff Accounting Bulletin 121 (SAB 121) could mark a transformative moment for the Ethereum (ETH) ecosystem , according to Markus Thielen , head of research at 10x Research . As cited by Cointelegraph in a recent markets report, Thielen highlighted the potential for decentralized fi...

Donald Trump’s crypto policies have ignited a sense of optimism within the industry, hinting at a new era of growth and innovation. The US Securities and Exchange Commission’s decision to rescind SAB 121 has further fueled confidence. Experts hope that the abolition of SAB 121 will pave the way for ...

The US Securities and Exchange Commission (SEC) announced on Thursday, January 23, the rescission of Staff Accounting Bulletin (SAB) No. 121, a directive that had imposed stringent accounting requirements on crypto custody for US banks and financial institutions. The move, encapsulated in the newly ...

The new US SEC team under Donald Trump’s leadership has revoked SAB 121, a crypto account regulation that has required financial entities to treat crypto holdings as liabilities on their balance sheets since March 2022. Because this shines a light on Ethereum, ERC-20 tokens might be the next cryptoc...

SAB 122 (after withdrawal of SAB 121) streamlines crypto custody operations and fosters greater trust in traditional financial firms offering cryptocurrency services.

The US Securities and Exchange Commission (SEC) has removed the much-debated and unpopular crypto accounting guidance Staff Accounting Bulletin No. 121 (SAB 121) only a few days after the exit of the SEC chair Gary Gensler. US SEC Withdraws Controversial SAB 121 The U.S. SEC has posted a notice on i...

President Trump has officially eliminated a controversial guideline from the U.S. Securities and Exchange Commission that effectively prevented US banks from holding crypto assets. The new administration just rescinded Staff Accounting Bulletin 121, which forced banks to identify crypto assets held ...

The US crypto ecosystem is foreseeing potential developments under President Donald Trump, with the formation of a Crypto Council being a top priority. While the White House’s Crypto Council is expected to enhance crypto policies, pro-XRP attorney John Deaton outlined four key areas the body should ...

With President Donald Trump taking charge, the crypto industry wants him to issue an executive order banning US central bank digital currency (CBDC) aka the Digital Dollar. During his presidential campaign last year in May, Trump made a similar promise to the industry and now is the time to walk the...