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Outcome of Gary Gensler's testimony before Congress by October 31, 2024?
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Securities and Exchange Commission•SEC•Gary Gensler•Congress•Patrick McHenry•Cynthia Lummis•Staff Accounting Bulletin
Resolution / Starting Odds
Gensler defends SAB 121 successfully • 25%
Gensler agrees to reconsider SAB 121 • 25%
Gensler faces significant backlash • 25%
Other • 25%
Congressional records and reputable news sources
Story
SEC Chair Gensler Faces GOP Scrutiny Over SAB 121 Crypto Rule
Sep 23, 2024, 09:36 PM
Securities and Exchange Commission (SEC) Chair Gary Gensler is under scrutiny as he prepares to testify before Congress. GOP lawmakers, led by Rep. Patrick McHenry and Sen. Cynthia Lummis, have urged the SEC to rescind Staff Accounting Bulletin (SAB) 121. This rule requires entities to recognize digital assets as liabilities. The call for rescission comes amid bipartisan, bicameral opposition, with 42 members of Congress signing a letter demanding the rule be nullified. The crypto market is on edge as the SEC's aggressive regulatory stance faces significant pushback.
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Resigns and replaced by Trump appointee • 25%
Resigns and replaced by interim chair • 25%
Does not resign by deadline • 25%
Other outcomes • 25%
No Violation Found • 25%
Minor Violations Found • 25%
Major Violations Found • 25%
Investigation Inconclusive • 25%
Remains in Position • 25%
Resigns • 25%
Terminated • 25%
Other • 25%
Very Effective • 25%
Somewhat Effective • 25%
Not Effective • 25%
Harmful • 25%
SAB 121 is rescinded • 25%
SAB 121 is modified • 25%
No changes to SAB 121 • 25%
Other outcome • 25%
Join a private financial institution • 25%
Enter academia • 25%
Join another government role • 25%
Other • 25%
