The U.S. SEC has officially revoked the anti-crypto SAB 121 rule that forced platforms to account for safeguarding crypto-assets as liabilities

The U.S. SEC has officially revoked the anti-crypto SAB 121 rule that forced platforms to account for safeguarding crypto-assets as liabilities, regardless of whether actual financial risks existed.

Under the new standards, companies are expected to assess potential liabilities based on loss contingencies and provisions.