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โ๏ธ The U.S. Senate has passed a decision to repeal a bill that prohibits banks from holding cryptocurrency
๐บ๐ธ Yesterday, the U.S. Senate passed a decision to repeal SEC's SAB 121 bill, which sets certain accounting standards for firms that hold cryptocurrency.
๐ The bill requires companies to record customers' cryptocurrencies as liabilities on their balance sheets, which may prevent banks from holding cryptocurrency.
๐ค Previously, President Joe Biden stated that he would veto any decision that repeals this bill. The Senate voted 60 to 38, which is not enough to override the presidential veto.
#USA #Congress #SEC #SAB121 #JoeBiden
๐ต If you found this helpful, consider showing your support by tipping me through the Binance Tipping feature. Your generosity will help me continue to provide high-quality content. Thank you!
๐บ๐ธ Yesterday, the U.S. Senate passed a decision to repeal SEC's SAB 121 bill, which sets certain accounting standards for firms that hold cryptocurrency.
๐ The bill requires companies to record customers' cryptocurrencies as liabilities on their balance sheets, which may prevent banks from holding cryptocurrency.
๐ค Previously, President Joe Biden stated that he would veto any decision that repeals this bill. The Senate voted 60 to 38, which is not enough to override the presidential veto.
#USA #Congress #SEC #SAB121 #JoeBiden
๐ต If you found this helpful, consider showing your support by tipping me through the Binance Tipping feature. Your generosity will help me continue to provide high-quality content. Thank you!
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