United States of America: SEC Staff Accounting Bulletin No. 121 regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users

Progress

Current status

in force

11 Apr 2022 in force

31 Mar 2022 adopted

Scope

Implementers

United States of America

Policy Area

Consumer protection

Policy Instrument

Quality of Service requirement

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

platform intermediary: other

Government Branch

executive

Government Body

other regulatory body

Implementation Level

national

Timeline of events

11 Apr 2022

in force

Implemented SEC Staff Accounting Bulletin No. 121 regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users

On 11 April 2022, the Staff Accounting Bulletin (SAB) No. 121, regarding the accounting for obligations to safeguard crypto assets an entity holds for platform users, entered into force. The SAB was adopted by the Securities and Exchange Commission'…

Source

Event type order

Action type implementation

Government branch executive

Government body other regulatory body

31 Mar 2022

adopted

Adopted SEC Staff Accounting Bulletin No. 121 regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users

On 31 March 2022, the Securities and Exchange Commission's (SEC) staff adopted the Staff Accounting Bulletin (SAB) No. 121 regarding the accounting for obligations to safeguard crypto assets an entity holds for platform users. The SAB serves as an i…