{"id":4884,"date":"2025-01-24T09:05:19","date_gmt":"2025-01-24T09:05:19","guid":{"rendered":"https:\/\/dev.adavault.com\/?p=4884"},"modified":"2025-01-24T09:06:30","modified_gmt":"2025-01-24T09:06:30","slug":"sec-scraps-sab-121-rule","status":"publish","type":"post","link":"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/","title":{"rendered":"SEC scraps SAB 121 rule"},"content":{"rendered":"\n<p>Another development just in which is positive for the wider sector, is the change to rules on custody for Banks in the U.S. with the move by the SEC to retire SAB 121 and replace it with SAB 122.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The US SEC has issued Staff Accounting Bulletin No. 122 (SAB 122), rescinding specific accounting guidance for custodial crypto assets previously addressed in SAB 121. This change provides more accounting flexibility, easing the accounting burden for firms, including regulated banks, considering offering crypto custody services.<\/p>\n<\/blockquote>\n\n\n\n<p>By removing the need to record crypto assets as liabilities on their balance sheet,  custodial services become a viable option for regulated entities like Banks which opens up options to provide new products and services.<\/p>\n\n\n\n<p><blockquote class=\"twitter-tweet\"><p lang=\"zxx\" dir=\"ltr\"><a href=\"https:\/\/t.co\/MuveNdHXOG\">https:\/\/t.co\/MuveNdHXOG<\/a><\/p>\u2014 Crypto Briefing (@Crypto_Briefing) <a href=\"https:\/\/twitter.com\/Crypto_Briefing\/status\/1882651334002016409?ref_src=twsrc%5Etfw\">January 24, 2025<\/a><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n\n\n\n<p>This is a very important technical change to promote wider adoption for cryptocurrencies generally, and is in line with the new U.S. administrations stated goal of becoming a global crypto powerhouse.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another development just in which is positive for the wider sector, is the change to rules on custody for Banks in the U.S. with the move by the SEC to retire SAB 121 and replace it with SAB 122. The US SEC has issued Staff Accounting Bulletin No. 122 (SAB 122), rescinding specific accounting guidance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[466,464,465,402],"class_list":["post-4884","post","type-post","status-publish","format-standard","hentry","category-interesting-links","tag-custodial-services","tag-sab-121","tag-sab-122","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC scraps SAB 121 rule - ADAvault<\/title>\n<meta name=\"description\" content=\"The ADAvault blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC scraps SAB 121 rule - ADAvault\" \/>\n<meta property=\"og:description\" content=\"The ADAvault blog\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\" \/>\n<meta property=\"og:site_name\" content=\"ADAvault\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-24T09:05:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-24T09:06:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dev.adavault.com\/wp-content\/uploads\/2020\/10\/cropped-logo-wp-top-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"512\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"webmaster\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adavaultops\" \/>\n<meta name=\"twitter:site\" content=\"@adavaultops\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"webmaster\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\"},\"author\":{\"name\":\"webmaster\",\"@id\":\"https:\/\/dev.adavault.com\/#\/schema\/person\/49b7a35bfadc7aa22c3643a455a1f179\"},\"headline\":\"SEC scraps SAB 121 rule\",\"datePublished\":\"2025-01-24T09:05:19+00:00\",\"dateModified\":\"2025-01-24T09:06:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\"},\"wordCount\":160,\"publisher\":{\"@id\":\"https:\/\/dev.adavault.com\/#organization\"},\"keywords\":[\"Custodial Services\",\"SAB 121\",\"SAB 122\",\"SEC\"],\"articleSection\":[\"Interesting links\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\",\"url\":\"https:\/\/dev.adavault.com\/index.php\/2025\/01\/24\/sec-scraps-sab-121-rule\/\",\"name\":\"SEC scraps SAB 121 rule - 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