Odaily Planet Daily News: The U.S. House of Representatives passed H.J. Res. 109, which aims to overturn the Securities and Exchange Commission's SAB 121 regulations on digital assets. The resolution aims to reduce regulatory burdens and promote safer custody of digital assets by regulated banks. However, the White House supports the Securities and Exchange Commission and issued a veto threat, emphasizing that if the president receives H.J. Res. 109, he will veto it. The House Financial Services Committee explained that H.J. Res. 109 overturned SAB 121, which was enacted by the SEC under the Congressional Review Act (CRA). By overturning SAB 121, this bipartisan resolution removes obstacles that prevent strictly regulated financial institutions and companies from acting as digital asset custodians, ensuring that consumers are protected. (Bitcoin.com)
