Regulatory Alerts2025-01-30 | 2025-01864Added · Updated
Staff Accounting Bulletin No. 122
The Securities and Exchange Commission issued Staff Accounting Bulletin No. 122 to rescind the interpretive guidance in Topic 5.FF regarding the accounting for obligations to safeguard crypto-assets held for platform users. Entities must apply the rescission on a fully retrospective basis for annual periods beginning after December 15, 2024, while continuing to provide disclosures that allow investors to understand these safeguarding obligations. This action removes the specific liability recognition and measurement framework previously established for crypto-asset safeguarding from the Staff Accounting Bulletin Series.
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