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OlegVaddy
@olagofficialaa
The SEC has rescinded the SAB 121 rule Previously, public companies and banks were required to report any crypto assets of customers on their balance sheets. SAB 121 was supported by former SEC Chairman Gary Gensler, who believed that the initiative would protect investors in the event of bankruptcy, but in fact it only burdened companies with unnecessary costs. At the same time, SAB 122 was introduced, mandating the provisions of the International Accounting Standard.
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