Rule

Biden

Coin

<ul class="news-points">
 <li>The House postponed the vote on overriding President Biden’s veto of H.J. Res. 109, rescheduling it for July 11th at 10:30 am.</li>
 <li>H.J. Res. 109 opposes the SEC’s SAB 121, which requires banks to list cryptocurrencies as liabilities, drawing criticism from the ABA.</li>
 <li>If the veto fails, the House plans to introduce a similar bill outside the Congressional Review Act to achieve its goal.</li>
</ul>
The U.S. House of Representatives has delayed a vote to override President Biden’s veto of a measure that would overturn an SEC accounting rule for crypto assets. The rule, known as Staff Accounting Bulletin 121 (SAB 121), requires banks and public companies to list cryptocurrencies as liabilities on their balance sheets.
The House was initially set to vote on overriding the veto this week, but Fox Business journalist Eleanor Terrett reported a postponement until 10:30 a.m. on Thursday, July 11th. This delay, reportedly due to the need for the House to debate a separate issue, followed a letter from President Biden to the House containing undisclosed information.
<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">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">NEW: The House has just moved this vote to tomorrow due to the fact that it now has to hold a debate on a completely d…
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/house-delays-vote-to-overturn-sec-crypto-accounting-rule-sab-121/" rel="noopener noreferrer nofollow">House Delays Vote to Overturn SEC Crypto Accounting Rule (SAB 121)</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

House Delays Vote to Overturn SEC Crypto Accounting Rule (SAB 121)

Coin Edition

Autres articles publiés le 11 juil. 2024

Web3 firm Bondex reveals new Telegram game with $1M in rewards

PSG Fan Token Engages Supporters

Bitcoin’s $600 Million Influx Sparks Optimism For A Revival To $60K

Republican lawmakers seek intelligence briefing on Microsoft’s $1.5 billion investment in UAE AI ...

Reviewing Solana For 2024 Alt Rally Ahead – Part 1

Crypto: Stay safe with DePin!

Join our free newsletter for daily crypto updates!