According to TechFlow, business practices proposed by some companies and financial institutions have been approved by SEC staff, enabling them to circumvent the controversial SAB 121 crypto accounting guidelines.

SAB 121 requires companies that custody cryptocurrencies to record customer assets as liabilities. Since its release in 2022, the guidance has sparked controversy, with several companies demonstrating their procedures and technology to prove that customers can retrieve cryptocurrencies in bankruptcy, thus being exempt from SAB 121. Although Congress has attempted to overturn the guidance, President Biden has vetoed the resolution.