SAB 121

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Crypto Voter Backlash: How Biden’s Veto May Have Cost Him the 2024 Election

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After a period of intense scrutiny of the cryptocurrency industry, many speculated that the Biden administration had reversed its stance by allowing the U.S. Securities and Exchange Commission (SEC) to approve several spot ethereum exchange-traded funds (ETFs). However, President Joe Biden has vetoed the latest resolution intended to quash the SEC’s crypto asset rules in … Read more

Banking Associations Support Resolution to Overturn SEC’s Controversial Crypto Rules

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The American Bankers Association, Bank Policy Institute, Financial Services Forum, and Securities Industry and Financial Markets Association sent a letter to President Joe Biden on May 31, urging him to sign the resolution passed by Congress to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121). The letter outlines that SAB 121, issued without regulatory … Read more

UBS Raises Gold Price Targets, TRUMP Coin Hits All-Time High, and More — Week in Review

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UBS has raised its gold price forecast from rising central bank demand and geopolitical tensions. Meanwhile, the meme coin TRUMP surged over 30% in 24 hours after former President Trump’s appearance at the Libertarian National Convention, marking a 98,352.40% increase over the last year. President Biden faces a deadline to veto or sign a resolution … Read more

Senate Urged to Pass Landmark Crypto Bill After Biden Vetoes Resolution to Overturn SEC Rules

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Following President Joe Biden’s veto of the resolution to overturn the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules in SAB 121, U.S. lawmakers in both the Senate and House of Representatives have intensified their efforts to pass the landmark crypto bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act. ‘Senate … Read more

President Biden Vetoes SEC SAB 121 Repeal Resolution

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U.S. President Joe Biden issued a veto against H.J.Res. 109, a resolution that would disapprove of the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin No. 121 (SAB 121). In its veto document, Bides states that the approval of this Republican-led resolution would “inappropriately constrain the SEC’s ability to set forth appropriate guardrails and address … Read more

Riding a Wave of Positive News, Crypto Markets Turn Bullish

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In a series of positive developments, the cryptocurrency market appears to be entering a bullish phase, marked by significant regulatory approvals and an apparent shift in political relevancy. The U.S. Securities and Exchange Commission’s unexpected approval of spot ether ETFs, coupled with former President Donald Trump’s pro-crypto stance and pledges, signals a growing acceptance and … Read more

Deadline Looms for Biden to Veto Congressional Overturn of SEC’s Crypto Rules

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The deadline for President Joe Biden to decide whether to veto or sign a resolution overturning the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules is approaching. The resolution passed both the House of Representatives and Senate despite a prior White House veto threat. Biden Faces Veto Deadline The resolution to overturn the U.S. … Read more

White House Opposes Crypto Bill FIT21 — Offers to Work With Congress on Balanced Framework for Digital Assets

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The White House has issued a statement opposing the passage of the crypto bill Financial Innovation and Technology for the 21st Century (FIT21) Act ahead of the House vote today. However, the Biden Administration offered to collaborate with Congress to establish a balanced regulatory framework for digital assets. The White House’s statement was preceded by … Read more

US Congress Passes First Standalone Crypto Legislation

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The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty. ‘We Are Just Getting Started’ In a historic move, … Read more