Law & Policy

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? 🧵

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:

Tracking crypto legislation and sentiment of US Congress members to provide crypto voters deeper insights to make well-informed voting decisions. cryptopols.com

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