SEC Withdraws Controversial Crypto Tax Accounting Bulletin The SEC published a new staff accounting bulletin rescinding SAB 121, which set certain rules for financial firms wanting to hold crypto.

Android Security Bulletin—July 2024 submitted by /u/MishaalRahman

U.S. SEC Messed Up in Handling Contentious Crypto Accounting Bulletin: GAO The U.S. Securities and Exchange Commission (SEC) was out of bounds when it issued its controversial “Staff Accounting Bulletin 121,” according to the Government Accountability Office (GAO). The 2022 guidance, which the industry says threatens crypto investors’ ability to find safe harbors for their assets, should have been treated as a formal r…