Letter Opposing HJ Resolution 109 Rescinding the Securities and Exchange Commission's Staff Accounting Bulletin (SAB) 121
HJ Resolution 109 is a Congressional Review Act resolution to repeal SEC Accounting Bulletin 121 (SAB 121). The bulletin requires that financial institutions (including banks and exchanges) count crypto assets as liabilities on their balance sheets (to account for their risk and volatility) and to make certain disclosures regarding those risks – which the SEC…