N₳zc₳l
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It's unfortunate that the WH issued the below Statement of Administration Policy indicating that the President would veto H.J. Res 109, the resolution to nullify SAB 121. SAB 121 would require custodians to record customers' digital assets as liabilities on their balances sheets. This has the practical effect of making it extremely prohibitive for responsible custodians to hold digital assets. Among other effects, it would result in onerous capital requirements against such assets. (Not to mention that the SEC issued SAB 121 without adhering to the proper CRA/APA process.) It is imperative that custody rules in the US properly protect consumers and investors in a way that allows our industry to grow. SAB 121 should have been subjected to public feedback and regulatory scrutiny before implementation. The SEC’s attempt to bypass established rulemaking processes under the guise of issuing 'staff-level guidance' undermines trust and due diligence expected in regulatory practices. whitehouse.gov/wp-content/upl…

JUST IN: 🇺🇸 Former President Donald Trump says "Biden doesn't even know what" crypto is and if you like crypto you "better vote for Trump."

Donald Trump says “If you’re in favor of Crypto, you better vote for Trump”
















