House votes to nullify SEC’s anti-crypto banking guidance SAB 121
(cointelegraph.com)
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That should be the standard...
You vote against Crypto then we vote against you in the next election.
We do not need a government in charge of the monetary system.
They have stolen from us constantly over the years.
A Dollar today only buys what a penny did 100 years ago.
We now have the opportunity to replace this with an independent decentralized crypto monetary system.
'The United States House of Representatives has voted to pass a bill overturning controversial Securities and Exchange Commission (SEC) guidance preventing banks from owning crypto.
President Joe Biden, however, warned earlier in the day that he would veto the new bill if it were to make it to his desk.
On May 8, the House voted to pass a bipartisan bill titled H.J. Res 109, overturning the SEC’s Special Accounting Bulletin 121 (SAB 121) requiring banks to hold their customers’ crypto assets on their balance sheets, which is not the case for traditional assets such as securities.
Republican Party Representative Mike Flood — who introduced the resolution — said SAB 121 was unfair for banks looking to custody crypto, as custodial assets are “always considered off-balance sheet.”
Notably, 21 members of the Democratic Party voted in favor of the bill, which, combined with the 207 votes from Republicans, saw the bill pass 228 votes to 182. '