The House of Representatives has voted to pass a resolution that overturns controversial SEC guidance that discourages banks from owning crypto.
The House of Representatives has voted to overturn controversial SEC guidance that has virtually blocked banks from custodying crypto assets.
President Joe Biden, however, previously warned earlier in the day that he would veto the new bill if it were to make it to his desk.dubbed H.J. Res 109 which overturns the SEC’s Special Accounting Bulletin that requires banks to hold their customers’ crypto assets on their balance sheets — which is not the case for traditional assets such as securities.
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