📢Good news! The latest news from BlockBeats is that the U.S. House of Representatives voted on President Joe Biden's veto of SAB 121 on July 11, but it was not passed. This means that the SEC's cryptocurrency accounting policy will remain unchanged. 😊

Behind this vote, there is a figure we cannot ignore, that is, Congressman Maxine Waters, one of the core negotiators of the Democratic Party for cryptocurrency legislation. He said that the U.S. Securities and Exchange Commission (SEC) and the banking industry are negotiating to change controversial accounting policies.

It should be mentioned here that SAB 121 is a proposed rule that requires entities that hold cryptocurrencies to record cryptocurrency holdings on their balance sheets. This rule has caused considerable controversy in the industry, but now it seems that the fate of this rule is still unknown.

What do you think of this news? Welcome to speak freely in the comment area, let us explore the future direction of cryptocurrency together!