❗️ The U.S. House of Representatives voted to repeal an SEC bill that bans banks from holding cryptocurrencies

🇺🇸 The U.S. House of Representatives has passed a decision to repeal a Securities and Exchange Commission (SEC) bill that sets certain accounting standards for firms holding cryptocurrencies.

🔍 According to this law, companies providing cryptocurrency custody services must list client cryptocurrencies as liabilities on their balance sheets. Representatives from the crypto industry believe this hinders banks from offering cryptocurrency custody services.

🧐 However, it is unclear whether this law will come into effect, as President Joe Biden has announced he will veto the decision.

#USA #Congress #SEC #Crypto #JoeBiden