Patrick

2024

Biden

Joe Biden

Lawmakers have appealed to President Joe Biden to reconsider his intention to veto a Congressional Review Act (CRA) resolution aimed at repealing the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121).&nbsp; 
The bill passed with the same parties’ support in both houses of Congress aims to repeal SAB 121, which has been denounced for possibly preventing financial institutions from providing crypto custody. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Lummis, House Colleagues Urge President Biden Not to Veto Bipartisan SAB 121 CRA <a href="https://t.co/Uqo2ZF7gWa" target="_blank">https://t.co/Uqo2ZF7gWa</a> <a href="https://t.co/TmCnSBLb88" target="_blank">pic.twitter.com/TmCnSBLb88</a>— blockchain tipsheet (@blockchaintpsht) <a href="https://twitter.com/blockchaintpsht/status/1796265220945715267?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 30, 2024</a>
 </blockquote> 
 </div>
</figure> 
Led by U.S. Senator Cynthia Lummis (R-WY) and Representative Patrick McHenry (R-NC), the bipartisan effort stresses that rescinding SAB 121 falls within the SEC’s authority, citing historical precedent of revisiting and rescinding staff accounting bulletins. This was the first standalone crypto legislation supported by the Senate and the House passing&nbsp; 60-38 and 228- 182 respectively. 
President Biden’s re-election <a href="https://www.cryptotimes.io/2024/05/30/biden-gives-into-crypto-hype-connects-to-top-leaders-sources/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/05/30/biden-gives-into-crypto-hype-connects-to-top-leaders-sources/" rel="noreferrer noopener">campaign has also engaged with the cryptocurrency</a> industry, signaling a shift from previous cautious stances towards crypto. To identify the key areas of concern for the policies that might be raised by the crypto advocates, especially SAB 121, the campaign will seek assistance in the formulation of policies that will be relevant to the targeted community groups.

Lawmaker Urges Biden to Reconsider Veto on SAB 121 Repeal

The Crypto Times

Další články publikované 31. 5. 2024

BlockDAG’s $10 Prediction by 2025 Boosts Presale to $37M, Amid Solana’s Surge & BONK’s Optimistic...

Beam Price Jumps 25% Amid Major Listing Announcement

Breaking: Franklin Templeton Updates Spot Ethereum ETF With 0.19% Fee

Analyst Foresees Dogecoin Surge

Cryptocurrency Investors Faced Challenges in 2022

Michael Saylor Celebrates Important Bitcoin Anniversary: Details

Join our free newsletter for daily crypto updates!