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The House is set to vote on H.J. Res. 109, a resolution proposed by USRepMikeFlood to repeal SAB 121, a rule by GaryGensler that impacts custody rules for digital assets. Flood aims to restore trust and security in the crypto ecosystem and hold SECGov accountable for consumer harms.
The bipartisan SAB 121 repeal debate is going on the House floor right now. Vote coming soon. Appreciate @USRepMikeFlood @RepWileyNickel pushing back on this SEC overreach. https://t.co/tTNCOwyTW9
“The SEC has typically regulated the cryptocurrency industry through enforcement action and has not provided regulatory clarity until it’s pressured to do so by the courts,” Lennon said. “I do think a decision by the court may be the only way we see the spot ether ETFs approved.”…
#HappeningNow: The House is debating @USRepMikeFlood's H.J.Res. 109, a CRA to nullify the @SECGov's disastrous Staff Accounting Bulletin 121. 📺 Tune in 🔗 https://t.co/kTrdVi79Bu