SEC softens stance around SAB-121: Galaxy Research
[Sep 13 7:33 PM] In May, United States congressional lawmakers voted to repeal Staff Accounting Bulletin-121 in a 228-182 bipartisan vote.
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SEC ‘dug in’ on bank crypto custody rule as agency’s stance ‘unchanged’
[Sep 10 6:22 AM] SEC chief accountant Paul Munter said agency staff views on a divisive rule curtailing banks from offering crypto custody services “remain unchanged.”
Digital Chamber urges US senators to support Lummis’ Bitcoin reserve bill
[Aug 2 1:35 AM] The crypto advocacy group says it is hand-delivering letters to every US Senator explaining why Bitcoin would help the US secure its position as a world leader.
Ripple CEO Suggests Vice President Kamala Harris Steer Clear of Anti-Crypto Rhetoric
[Jul 28 11:30 PM] Ripple CEO Brad Garlinghouse has criticized Congressman Brad Sherman’s anti-crypto comments, urging Vice President Kamala Harris to distance herself from such views. The Ripple executive warned that opposing cryptocurrencies is equivalent to…
US Senator Hails Bitcoin’s Potential to Democratize Finance and Improve Financial Inclusion
Fed Chair Powell Reaffirms Stance on Custody Assets Amid SEC Crypto Rule Controversy
[Jul 10 7:47 PM] On Wednesday, Federal Reserve Chair Jerome Powell testified before the U.S. House Financial Services Committee, where Congressman Josh Gottheimer (D-NJ) questioned him about the SEC’s Staff Accounting Bulletin (SAB) 121. This bulletin…
SEC Commissioner Advocates for Withdrawal of SAB 121 — Says Biden’s Veto Was Unfortunate
[Jun 5 12:15 PM] U.S. Securities and Exchange Commission (SEC) Commissioner Mark Uyeda advocates for the withdrawal of Staff Accounting Bulletin 121 (SAB 121), which sets guidelines for accounting crypto liabilities. He argues that the method of its issuance…
US political change could expose crypto to $20T industry: Bitwise
[Jun 4 11:13 PM] Regulatory uncertainty is holding back the $20 trillion dollar financial advisory industry from investing more in crypto, claims Bitwise investment head Matt Hougan.
Crypto Voter Backlash: How Biden’s Veto May Have Cost Him the 2024 Election
[Jun 2 1:32 PM] After a period of intense scrutiny of the cryptocurrency industry, many speculated that the Biden administration had reversed its stance by allowing the U.S. Securities and Exchange Commission (SEC) to approve several spot ethereum exchange-traded…
Banking Associations Support Resolution to Overturn SEC’s Controversial Crypto Rules
[Jun 2 12:35 PM] The American Bankers Association, Bank Policy Institute, Financial Services Forum, and Securities Industry and Financial Markets Association sent a letter to President Joe Biden on May 31, urging him to sign the resolution passed by Congress to…
UBS Raises Gold Price Targets, TRUMP Coin Hits All-Time High, and More — Week in Review
[Jun 2 6:05 AM] UBS has raised its gold price forecast from rising central bank demand and geopolitical tensions. Meanwhile, the meme coin TRUMP surged over 30% in 24 hours after former President Trump’s appearance at the Libertarian National Convention…
Senate Urged to Pass Landmark Crypto Bill After Biden Vetoes Resolution to Overturn SEC Rules
President Biden Vetoes SEC SAB 121 Repeal Resolution
[May 31 6:02 PM] U.S. President Joe Biden issued a veto against H.J.Res. 109, a resolution that would disapprove of the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin No. 121 (SAB 121). In its veto document, Bides states that the approval of…
Riding a Wave of Positive News, Crypto Markets Turn Bullish
[May 28 5:21 AM] In a series of positive developments, the cryptocurrency market appears to be entering a bullish phase, marked by significant regulatory approvals and an apparent shift in political relevancy. The U.S. Securities and Exchange Commission’s…
Deadline Looms for Biden to Veto Congressional Overturn of SEC’s Crypto Rules
[May 26 3:20 PM] The deadline for President Joe Biden to decide whether to veto or sign a resolution overturning the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules is approaching. The resolution passed both the House of…
White House Opposes Crypto Bill FIT21 — Offers to Work With Congress on Balanced Framework for Digital Assets
[May 22 9:50 AM] The White House has issued a statement opposing the passage of the crypto bill Financial Innovation and Technology for the 21st Century (FIT21) Act ahead of the House vote today. However, the Biden Administration offered to collaborate with…
US Congress Passes First Standalone Crypto Legislation
[May 19 2:38 PM] The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened…
Biden may rethink SAB 121 vote veto due to political support for crypto
[May 17 8:48 PM] The U.S. Congress bipartisan vote has overwhelmingly demonstrated its rejection of the SEC’s SAB 121. President Biden threatened to veto the overruling. Will the executive branch overthrow Congress’s decision?
SEC custody rule made crypto regulation a ‘political football’ — Rep. Nickel
[May 15 7:20 PM] The SEC’s proposed crypto custody rule and its “hostility” to the industry isn’t in Joe Biden’s “best interests,” Representative Wiley Nickel told Gary Gensler.
Senate Urged to Swiftly Overturn SEC’s ‘Misguided’ Crypto Rules
[May 10 5:16 PM] Following the U.S. House of Representatives passing a resolution to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121), Senator Cynthia Lummis has urged the Senate to do the same. The resolution aims to prevent regulatory overreach that…
House Approves Resolution to Overturn SEC’s Crypto Rules — Biden Threatens to Veto
[May 9 9:15 AM] The U.S. House of Representatives has passed H.J. Res. 109, a resolution aimed at overturning the Securities and Exchange Commission’s SAB 121 regulations on digital assets. The resolution seeks to reduce regulatory burdens and promote safer…
House votes to nullify SEC’s anti-crypto banking guidance SAB 121
[May 8 4:53 PM] The House of Representatives has voted to overturn controversial SEC guidance that has virtually blocked banks from custodying crypto assets.
U.S. lawmakers argue SEC accounting policy places crypto customers at risk
[Mar 2, 2023 11:56 PM] While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.