Official SEC documentation or credible news reports confirming the revocation of SAB 121

Trump's SEC, Led by Peirce and Uyeda, to Overhaul Crypto Policy and Review SAB 121

Jan 15, 2025, 03:07 PM

The incoming administration of President-elect Donald Trump is set to initiate a major overhaul of cryptocurrency policy through the U.S. Securities and Exchange Commission (SEC). According to reports from Reuters and other sources, the Trump administration plans to review and potentially revise the SEC's approach to digital assets, including a possible freeze on current enforcement actions. This policy shift, led by Hester Peirce and Mark Uyeda, may begin as early as next week, aiming to clarify regulations around tokens and reassess ongoing enforcement cases in the courts. The overhaul is expected to include the review of past cryptocurrency-related cases, with some non-fraud lawsuits potentially being withdrawn. The SEC may also consider revoking accounting rules such as Staff Accounting Bulletin 121 (SAB 121).