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What legislative actions will follow the Senate's decision on H.J.Res. 109?
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SEC•Staff Accounting Bulletin 121•Congressional Review Act•Mike Flood•House•Senate•Joe Biden•Democrats•Republican
Resolution / Starting Odds
Introduction of a new related bill • 25%
Amendment of existing financial regulations • 25%
No further actions • 25%
Reintroduction of a similar resolution • 25%
Congressional records and major news outlets
Story
House Passes H.J.Res. 109 to Repeal SEC's Crypto Rule, 228-182
May 8, 2024, 09:56 PM
The U.S. House of Representatives recently voted 228-182 to repeal the SEC's Staff Accounting Bulletin 121 (SAB 121) under the Congressional Review Act, with the resolution H.J.Res. 109 led by Congressman Mike Flood. The rule has been criticized for overreaching SEC authority and hindering financial innovation and competition. Despite the House's approval, the resolution faces significant challenges as it is unlikely to pass the Senate, and President Joe Biden has threatened to veto it. Notably, the vote marked a significant bipartisan moment with 21 Democrats joining their Republican colleagues in support of the repeal.
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Supportive statements • 25%
Neutral statements • 25%
Critical statements • 25%
No public reaction • 25%
Positive market reaction • 33%
Negative market reaction • 33%
No significant change • 34%
Support new bill • 25%
Oppose new bill • 25%
Implement internal changes • 25%
No significant change • 25%
Yes, President vetoes the resolution • 50%
No, President signs the resolution • 50%
Passed with strong majority • 33%
Passed with narrow majority • 34%
Not passed • 33%
Significant market surge • 25%
Moderate market increase • 25%
No significant change • 25%
Market decline • 25%
Expand cryptocurrency services • 25%
Maintain current level of services • 25%
Reduce cryptocurrency services • 25%
Terminate cryptocurrency services • 25%
Increased regulation • 33%
Decreased regulation • 33%
No significant change • 34%
Yes • 50%
No • 50%
Increase Regulations • 25%
Decrease Regulations • 25%
Maintain Current Level • 25%
Issue New Guidance • 25%