Congressman Flood Pushes Back on Securities and Exchange Commission's Overreach in Digital Assets Accounting
March 31, 2023
March 31, 2023
WASHINGTON, March 31 -- Rep. Mike Flood, R-Nebraska, issued the following news release and letter:
U.S. Congressman Mike Flood sent a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler raising concerns with Staff Accounting Bulletin 121 (SAB 121), which changed the way banks and financial institutions are expected to account for the custody of digital assets.
"SAB 121's treatment of digital assets differs from the existing accounting trea . . .
U.S. Congressman Mike Flood sent a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler raising concerns with Staff Accounting Bulletin 121 (SAB 121), which changed the way banks and financial institutions are expected to account for the custody of digital assets.
"SAB 121's treatment of digital assets differs from the existing accounting trea . . .