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while the bulletin was intended to provide Clarity regarding the accounting treatment for digital assets it has been criticized by both lawmakers and regulators 213 total views three total shares own this piece of History collect this article as an nft2 United States lawmakers have criticized crypto accounting guidelines outlined by the Securities regulator arguing it places crypto customers at greater risk of loss the guidelines came from the United States Securities and Exchange Commission SEC which became effective in April last year the guidelines ask financial companies holding crypto for customers to recognize All Digital assets they do not control as a liability it also states that digital assets should be backed by a safeguarding asset crypto companies must show liabilities equal to all customer crypto assets according to sex new rule Sab 121 issued in March 2022 at coinbase complied for their Q2 filing and now shows an 88 billion dollars customer crypto liabilities item https