On Monday, September 9, Paul Munter, Chief Accountant of the Securities and Exchange Commission (SEC), gave a speech in which he revealed that the Commission does not object to the bank’s assessment that the SAB 121 balance sheet accounting requirements do not apply to the bank.
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WenJunIn recent times, the Senate has voted to overturn the SEC’s Staff Accounting Bulletin No. 121—also known as SAB121. Following this, the Biden administration has vowed that he would veto this bill if it were passed. So what is all this fight about, and what is the big hoo-ha behind this bill?
XingChiU.S. President Biden said he vetoed the resolution because "he will not support measures that endanger the well-being of consumers and investors."
JinseFinanceBipartisan lawmakers urge Biden to reconsider veto on SAB 121 repeal, citing concerns over crypto regulation and market stability.
EdmundThe U.S. Senate joined the House of Representatives in voting to repeal a controversial Securities and Exchange Commission (SEC) accounting rule that imposed onerous capital requirements on crypto custodians.
JinseFinanceSenate's bipartisan approval of H.J.Res. 109 challenges SEC's SAB 121, pushing President Biden to decide amidst political and industry pressures.
WeiliangHouse passes bipartisan bill to challenge SEC's crypto guidance, faces potential veto from President Biden.
Xu LinPavel Durov says Telegram is near profitability compared to rival Twitter and Snap.
cryptopotatoAccording to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.
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