House Resolution to Overturn Controversial SEC Rule Likely to Pass in Senate: Sources

House Resolution to Overturn Controversial SEC Rule Likely to Pass in Senate: Sources


A House proposal to revoke the U.S. Securities and Exchange Commission’s Staff Accounting Bulletin 121 is likely to pass through the Senate in a vote on Thursday, multiple people familiar with the situation told CoinDesk.

A Senate source familiar with the situation told CoinDesk they expected a floor vote on Thursday in the late morning, and the bill was in a “good position” for passage.

“There’ll likely be more than one Democrat voting for it,” the individual said.

Trending: Vince Fong wins McCarthy’s California House seat special election

SAB 121 intended to explain how businesses should account for crypto assets, saying they should hold these assets on their own balance sheets. Critics have argued the bulletin

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!