The 2022 SEC staff accounting guidance for entities safeguarding crypto assets, influential in U.S. custody economics and later policy debate.
SEC Staff Accounting Bulletin 121 is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
SEC Staff Accounting Bulletin 121 belongs to the documented history and social layer around Bitcoin. Primary records can establish what was published, built or decided; motives, influence and later interpretation should remain separate from those verifiable facts.
Understanding SEC Staff Accounting Bulletin 121 helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
For the clearest picture, read this entry together with Bank bitcoin custody, Institutional bitcoin custody, Bitcoin accounting policy, Counterparty risk. The reverse links also lead from Bitcoin accounting policy.
Linked to related atlas coordinates
Grounded in a source record
Explains function and trade-offs
Part of the open Bitcoin knowledge graph