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Cryptopols
@cryptopols
We have witnessed the first full chamber vote on a dedicated crypto bill in the U.S. House yesterday: H.J.Res.109 Let’s break it down! Can this bill become law? 🧵
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Cryptopols
@cryptopols
2️⃣ H.J.Res.109 would rescind SAB 121, an SEC guidance requiring entities that custody digital assets to do so on balance sheet ➡️ major negative impacts for banks reg. their capital & liquidity requirements, deterring market participation Bill summary: https://cryptopols.com/cp/legislation_detail?id=49
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Cryptopols
@cryptopols
3️⃣ The bill passed with 228 to 182 votes in the House, incl. support of 21 Dems Congressional votes are one of the strongest signals to interpret crypto sentiment How did your Congress member vote? Find your representative here & check their record: https://cryptopols.com/cp/find-rep
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Cryptopols
@cryptopols
4️⃣ What’s next? Senate needs to vote where Lummis introduced a similar bill: S.J.Res.59 14 Senators cosponsored S.J.Res.59 this week, all of them Republicans. It will likely need help from some Democrat Senators to pass H.J.Res.109 in the Senate https://cryptopols.com/cp/legislation_detail?id=50
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Cryptopols
@cryptopols
5️⃣ Outlook: Biden already confirmed to veto H.J.Res.109 if it comes to him The statement signals clear anti-crypto sentiment and backs the SEC to continue its crypto regulatory course ➡️ What crypto legislation is Biden willing to sign if not this one?
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meebit14657🎩🛡🦄🌈🍌
@meebit14657.eth
10 $degen
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