Published 2 months ago • loading... • Updated 2 months ago

The US SEC revokes SAB 121, a controversial accounting rule added in 2022 that forced banks to treat BTC and other tokens as a liability on their balance sheets

Summary by Techmeme

The essential tech news of the moment. Technology's news site of record. Not for dummies.

This story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

16 Articles

All

Left

Center

Right

Bitcoin Ethereum News

Ethereum Could Thrive Following SAB 121 Abolition, Says Analyst

The post Ethereum Could Thrive Following SAB 121 Abolition, Says Analyst appeared on BitcoinEthereumNews.com. 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 finance (DeFi) services to thrive, positio…

2 months ago

Read Full Article

Coingape

Will SAB 121 Abolition Allow Banks To Hold Bitcoin?

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 establishment of Bitcoin banks. Notably, Stacy Herbert, Director of El Salvador’s Bitcoin Office, has expressed hopefulness about banks holding B…

2 months ago

Read Full Article

BitcoinNews.com

SEC Revokes SAB 121 Paving Way for Banks to Custody Bitcoin

Acting SEC Chair Mark Uyeda, assigned to temporarily lead the SEC under the new Trump administration revoked the SAB 121.

2 months ago

Read Full Article

Bitcoin Insider

SEC’s New Look Under Trump: Banks May Now Offer Bitcoin Custody

The SEC has just lifted a financial rule that restricted American banks from offering Bitcoin custody services. On January 24th, the Commission under the newly appointed Acting Chair Mark Uyead pulled the “Staff Accounting Bulletin No. 121” from its regulatory framework. This development is more significant than it seems, as now banks will be allowed [...]

2 months ago

Read Full Article

TeknoDate

Trump's Bold Move Enables Banks to Custody Bitcoin and Crypto

In a landmark decision that marks a significant shift in the regulatory landscape, former President Donald Trump has eliminated SAB…

2 months ago

Read Full Article

Blockworks

Reposted by

cryptocrunchapp.com

Why SAB 121’s end is a big deal

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. SEC Commissioner Hester Peirce — two days after being named leader of a new crypto task force — revealed SAB 121 would be no more. Bye, bye SAB 121! It's not been fun: https://t.co/cIwUc0isUE | Staff Accounting Bulletin No. 122— Hester Peirce (@HesterPeirce) January 23, 2025 Some context: A Staff Accounting Bulletin, or SAB, represents interpretations and …

2 months ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year