Senate Passes Bill to Overturn SEC Rule on Bitcoin And Crypto Custody, Biden Threatens Veto
The bill now heads to the President's desk.
Moments ago, the Senate passed legislation H.J.Res. 109 that would overturn the SEC's Staff Accounting Bulletin (SAB) No. 121, preventing highly regulated financial firms from custodying Bitcoin and other cryptocurrencies. The legislation passed with a vote of 60 to 38, demonstrating bipartisan support for the measure.
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