According to CoinDesk, the U.S. Government Accountability Office (GAO) stated that the Staff Accounting Bulletin 121 (SAB 121) issued by the U.S. Securities and Exchange Commission (SEC) should go through different procedures, including submission to Congress before taking effect, but the announcement does meet the definition of the rules in the Administrative Procedure Act and there are no exceptions, so the announcement is subject to the submission requirements of the Congressional Review Act.

The SEC said the GAO investigation did not have any direct impact on the announcement. The announcement will now likely go to Congress for review, though the details of the mechanics are unclear. Once a new federal rule reaches Congress, lawmakers will have the opportunity to reject it under the Congressional Review Act.