#sanor016CommUNITY
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US lawmakers led by Senator Cynthia Loomis and representatives. Wiley Nickel and Mike Fludd decided to repeal the US Securities and Exchange Commission (SEC) rule called SAB 121. This law places restrictions on how companies can handle customers' cryptocurrency assets.
Lawmakers argue that the law has no legal basis and creates a heavy burden for cryptocurrency owners. Backed by crypto advocacy groups, they tried to use the Congressional Review Act to repeal the law.
