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What will be the public opinion on SEC's crypto regulation approach by end of 2024?
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SEC•Staff Accounting Bulletin 121•Joint Resolution 109•Democratic•Wiley Nickel•Biden•House•Senate•Gary Gensler•Congress
Resolution / Starting Odds
Majority approval of SEC's approach • 33%
Majority disapproval of SEC's approach • 33%
Mixed or no clear majority opinion on SEC's approach • 34%
Poll results from major polling agencies reported by major news outlets.
Story
Senate to Vote at 10 AM on Overturning SEC's Controversial SAB 121 Crypto Rule
May 15, 2024, 07:51 PM
The U.S. Senate is set to vote on a resolution to overturn the SEC's controversial Staff Accounting Bulletin 121 (SAB 121), which discourages financial institutions from being custodians of digital assets. The resolution, known as Joint Resolution 109, has garnered significant bipartisan support, with sources indicating sufficient Democratic backing for its passage. Representative Wiley Nickel has been vocal in his opposition to SAB 121, calling it a political football that forces President Biden to choose sides on the issue. The bill passed the House last week with notable bipartisan support, and the Senate vote is expected to take place today at 10 AM. SEC Chair Gary Gensler has faced criticism for the rule, which was issued without proper consultation with the respective regulatory agencies or Congress. If passed, this would mark a significant pushback against the SEC's approach to crypto regulation.
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Clear guidelines established • 33%
Continued litigation • 33%
No major changes • 33%
Increased approval • 33%
No significant change • 33%
Decreased approval • 33%
Increased Regulation • 33%
Status Quo • 33%
Reduced Regulation • 34%
Increased Support • 25%
Decreased Support • 25%
No Change • 25%
Unsure • 25%
Mostly Positive • 25%
Neutral • 25%
Mostly Negative • 25%
No Opinion • 25%
Positive • 50%
Negative • 50%
Positively received • 33%
Negatively received • 33%
Neutral or mixed reactions • 34%
