Monday, November 4, 2024
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U.S. SEC Messed Up in Handling Contentious Crypto Accounting Bulletin 121: GAO

"Today, the GAO recognized SAB 121 for what it is: regulation under the guise of staff guidance," said Nathan McCauley, CEO and co-founder of Anchorage Digital Bank, in a statement. He said the bulletin "makes it economically impossible for SEC-reporting banks – some of the most trusted financial institutions worldwide

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Senators join chorus of disapproval of ‘backdoor regulation’ in SEC staff accounting bulletin

United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts

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