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Congressional actions on digital assets in 2025 session
5
Resolution / Starting Odds
Introduction of new digital asset bill • 25%
Amendment of existing laws • 25%
Repeal of SAB 121 • 25%
No significant action • 25%
Congressional records or verified news sources reporting on legislative activities
Story
Rep. Wiley Nickel, 21 Dems Urge SEC to Withdraw SAB 121 Amid Bipartisan Senate Effort
May 15, 2024, 04:09 PM
Representative Wiley Nickel has taken a strong stance against the SEC's Staff Accounting Bulletin 121, calling for its withdrawal. In a letter to SEC Chair Gary Gensler, Nickel criticized the SEC's approach to the digital assets industry, stating that it is not serving President Biden's best interests. Nickel's actions follow a bipartisan effort in the Senate to nullify SAB 121, with 21 Democratic representatives, including RepRitchie, voting for its repeal. Nickel's letter highlights concerns that the SEC's policies are turning cryptocurrency into a political issue, forcing the President to take sides unnecessarily. The letter was sent on May 15, following the expected bipartisan Senate vote.
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Introduce more crypto-friendly legislation • 33%
Increase regulatory scrutiny on cryptocurrencies • 33%
Maintain current stance without significant changes • 34%
Increase • 25%
Decrease • 25%
No change • 25%
Too early to determine • 25%
New legislation passed to curb SEC powers • 33%
No significant legislative changes • 33%
Proposals made but not passed • 34%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Pass a new modified crypto regulation bill • 33%
No further action on crypto regulation • 33%
Reintroduce the same bill with minor amendments • 34%
Expand cryptocurrency services • 25%
Maintain current level of services • 25%
Reduce cryptocurrency services • 25%
Terminate cryptocurrency services • 25%
