US Senate votes to overturn SEC rule, allowing regulated firms to hold Bitcoin

-60-38 in the Senate voted in favour of overturning the SEC rule.

-Bipartisan support signals a potential shift in crypto regulation.

-Presidential veto possible.

In a landmark decision, the US Senate has voted to overturn a key Securities and Exchange Commission (SEC) rule that barred regulated financial firms from holding Bitcoin and other cryptocurrencies.

The legislation, known as H.J. Res. 109, previously passed in the US House with bipartisan support and the Senate’s support signals a potential shift in the regulatory landscape for digital assets in the United States.