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SEC's approach to digital assets post-SAB 121 controversy by end of 2025
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Resolution / Starting Odds
Tougher regulations • 33%
No change in policy • 33%
Relaxed regulations • 34%
SEC publications, official announcements, or major financial news agencies
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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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New regulations introduced • 50%
No significant changes • 50%
Yes, SEC proposes a new crypto regulation • 50%
No, SEC does not propose a new crypto regulation • 50%
Introduce more crypto-friendly legislation • 33%
Increase regulatory scrutiny on cryptocurrencies • 33%
Maintain current stance without significant changes • 34%
Clear guidelines established • 33%
Continued litigation • 33%
No major changes • 33%
Increased Regulation • 33%
Status Quo • 33%
Reduced Regulation • 34%
Stricter regulations • 33%
No significant change • 33%
More lenient approach • 34%
Increase Regulations • 25%
Decrease Regulations • 25%
Maintain Current Level • 25%
Issue New Guidance • 25%
Yes • 50%
No • 50%
Expand cryptocurrency services • 33%
Maintain current services • 33%
Reduce cryptocurrency services • 33%
