Official SEC announcements or major financial news outlets

U.S. Senate to Vote on Overturning SEC's Anti-Crypto SAB 121 Rule

May 16, 2024, 12:35 PM

The U.S. Senate is set to vote today on overturning the SEC's anti-crypto rule, Staff Accounting Bulletin 121, which discourages financial institutions from being custodians of digital assets. The consensus is that the Senate will follow the House in overturning the rule. President Biden has threatened to veto the bill if it passes the Senate. The vote is scheduled to start at 10 AM.