Trump's SEC withdraws strict crypto accounting requirements, giving financial firms more flexibility

From Investing.com

January 23, 2025 6:53:10 pm:

The SEC, under new Trump-appointed leadership, withdraws strict crypto disclosure requirements for financial firms holding crypto. The issuance of SAB 122 rescinds SAB 121, allowing institutions holding crypto to determine how to declare assets. SAB 121 was overturned by Congress in 2022 but kept in place by Biden’s veto. Former SEC Chair Gensler steps down amid the changes. Task force formed to inform crypto regulation, Trump signs executive order for digital assets reserve.

Read more at Investing.com: Trump’s SEC rescinds SAB 121 requirement for crypto accounting By Investing.com