CoinVoice has recently learned that U.S. Congressman Mike Flood stated: "Despite widespread opposition, SAB 121 remains effective as a regulation, even though it has never gone through the normal (Administrative Procedure Act) process."
Flood said: "I look forward to working with the next SEC Chair to repeal SAB 121. Whether Chair Gary Gensler resigns on his own or President Trump fulfills his (commitment to fire Gensler), the new administration has a great opportunity to usher in a new era after Gensler's departure."
He added: "Gensler opposed the bipartisan digital asset regulatory framework passed by the House earlier this year, which should come as no surprise. 71 Democrats joined House Republicans in passing this common-sense framework. Although the Democrat-led Senate refused to accept it, it represents a breakthrough moment for cryptocurrency and could inform the work of a unified Republican government when the next Congress begins in January." [Original link]
