🚀🇺🇸 The US House of Representatives is preparing to review a bill aimed at repealing the SEC directive, which critics say makes it difficult for crypto companies to cooperate with banks.

— The bill, previously rejected by President Joe Biden, will be considered on or after July 9.

- The SEC issued Accounting Bulletin No. 121 (SAB 121), advising financial institutions that hold cryptocurrency on behalf of clients to include those assets on their balance sheets as if they owned them.

- This recommendation has been criticized for discouraging investment banks and other traditional financial entities from providing cryptocurrency custody services on a large scale.

Join the discussion in the comments! Do you think the bill can gather enough support to override the President's veto and repeal SAB 121? 🤔