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Congressional disapproval of SEC Rule changes regarding crypto assets (HJRES 109)

Score:

48

%

Federal

2024

Latest Action:

Updated:

Chamber:

This resolution states that Congress disapproves of the SEC Staff Accounting Bulletin No. 121. This bulletin provides interpretive guidance on accounting for obligations to safeguard crypto-assets that an entity holds for its platform users. Essentially, it directs entities on how to reflect these obligations in their balance sheets, stressing the need for disclosure regarding the nature and amount of these assets and associated liabilities.

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