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  3. /SAB 121
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traditional-finance

SAB 121

An SEC accounting bulletin that required banks to record crypto they custody as liabilities on their own balance sheets.

Definition

An SEC accounting bulletin that required banks to record crypto they custody as liabilities on their own balance sheets. This effectively made it too expensive for most banks to offer crypto custody. The crypto industry fought hard against it, and it was eventually overturned, opening the door for bank custody of crypto.

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Related Terms

Custody Solutions

Services that securely store cryptocurrency on behalf of institutional investors.

Compliance

Following the laws and regulations that apply to financial activities, including crypto.

Spot ETF

An exchange-traded fund that holds the actual cryptocurrency rather than futures contracts.

Accredited Investor

Someone who meets specific income or net worth thresholds set by regulators, qualifying them for investments not available to the general public.

Anti-Money Laundering (AML)

Laws and procedures designed to prevent criminals from disguising illegal funds as legitimate income.

Asset Allocation

How you divide your investments across different asset classes like stocks, bonds, crypto, and cash.

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