By Vince • May 9, 2024 11:44 pm •
The U.S. House of Representatives voted to block an aggressive overreach of the Securities and Exchange Commission (SEC) on Wednesday.
Lawmakers voted to overturn the highly controversial measures outlined in SAB 121 preventing banks from owning crypto or otherwise holding assets on behalf of their customers. However, Joe Biden has already threatened to use his veto power to keep the draconian measure from being tossed.
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Concerned lawmakers and industry professionals all shared their concerns on social media.
Following the vote and successful passage of the bill, Senator Cynthia Lummis stated:
“I am proud the House passed the bipartisan SAB 121 CRA led by Rep. Mike Flood and Wiley Nickel. We cannot allow the administration to regulate
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