Contact Congress about S.J.Res. 59: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".

The resolution would cancel the SEC’s Staff Accounting Bulletin No. 121. It would end that bulletin without creating a replacement.

Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". is a Senate bill in Congress.

Who this affects: This resolution mainly affects financial firms that use SAB 121 when accounting for digital assets held for customers. It also affects the SEC, which could no longer rely on that bulletin as a binding rule. Investors and digital-asset markets may also feel the effects, but the resolution does not say exactly how practices would change.

Why this matters: SAB 121 guides how affected firms handle certain accounting and reporting issues, and this resolution would remove it without a replacement. That could reduce burdens for some firms, but it could also leave questions about how they should report or manage certain risks. The vote also matters beyond this bulletin because rejecting it may make a similar SEC rule harder to issue later.

Key provisions in S.J.Res. 59

• Congress would review the SEC action under the Congressional Review Act. That law lets Congress reject federal agency rules.
• The resolution targets the SEC’s Staff Accounting Bulletin No. 121. The government published it in the Federal Register on April 11, 2022, at citation 87 Fed. Reg. 21015.
• The Government Accountability Office found that SAB 121 counts as a rule under the Congressional Review Act. It issued that finding on October 31, 2023.
• SAB 121 would have no force or effect if the resolution became law.
• The resolution would not create a replacement standard or any new requirements. It would only cancel the named SEC bulletin.

How Modern Action helps you take action on S.J.Res. 59

You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.

Questions people ask about S.J.Res. 59

What is S.J.Res. 59?

The resolution would cancel the SEC’s Staff Accounting Bulletin No. 121. It would end that bulletin without creating a replacement.

How do I support or oppose S.J.Res. 59?

Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.

Who should I contact about S.J.Res. 59?

Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.

How does Modern Action help me act on S.J.Res. 59?

Modern Action gives you bill-specific context, lets you choose support, opposition, or changes, and drafts a message from your position and reasons.