News with the tag "Staff Accounting Bulletin 121"

The U.S. House of Representatives will vote next week to overturn President Biden's SAB 121 veto, which mandates cryptocurrency custody firms to list customer holdings as liabilities.

While the House and Senate already voted to overturn SAB 121, it will need a two-thirds majority vote from both chambers to invalidate Biden’s veto.

Many industry pundits speculate the SEC’s sudden change of pace on spot Ether ETFs could be a result of increased political pressure.