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.@SECGov has virtually locked out the most regulated institutions from serving as custodians for digital assets. It’s time to roll back SAB 121 and to stop @GaryGensler’s overreach. https://t.co/n3xWRhPMWq
The @SECGov's Staff Accounting Bulletin 121 leaves consumers unprotected by deterring regulated banks from being digital asset custodians. @USRepMikeFlood and @RepWileyNickel's bipartisan resolution reverses this unlawful rule using the Congressional Review Act. https://t.co/RdrA3HfdFV
Rather than executing laws enacted by Congress, @SECGov Chair Gensler persistently attempts to circumvent Congress and the APA. Today, we're holding the SEC accountable for its disregard for Congressional intent and attempts to stymie digital asset innovation in the U.S. https://t.co/tOgojgMEZ3
The crypto industry, represented by the Digital Chamber, is challenging the SEC's enforcement actions against Kraken, aiming to curb regulatory overreach without legislative backing. Industry players unite against government crackdown, seeking legal avenues to combat what they perceive as stifling regulations.
