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SEC Commissioner Hester Peirce — two days after being named leader of a new crypto task force — revealed SAB 121 would be no more.

Bye, bye SAB 121! It’s not been fun: | Staff Accounting Bulletin No. 122

— Hester Peirce (@HesterPeirce) January 23, 2025

Some context: A Staff Accounting Bulletin, or SAB, represents interpretations and policies followed by SEC divisions in administering federal securities laws-related disclosure requirements.

The SEC published SAB 121 in March 2022. It notably said that an entity “should present a liability on its…

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