• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Senate Passes Resolution to Remove Cryptocurrency Custody Restrictions

user avatar

by Giorgi Kostiuk

a year ago

  1. Adoption of H.J.Res. 109
  2. Bipartisan Support in Congress
  3. Upcoming Senate Election in Pennsylvania


    4. The U.S. Senate recently approved H.J.Res. 109, which aims to overturn the SEC's accounting bulletin restricting financial institutions from custodying cryptocurrencies.

    Adoption of H.J.Res. 109

    The U.S. Senate recently passed H.J.Res. 109, which seeks to overturn SEC Staff Accounting Bulletin No. 121. The resolution was approved by a vote of 60 to 38. It aims to lift restrictions preventing financial institutions from serving as custodians for cryptocurrencies.

    Bipartisan Support in Congress

    H.J.Res. 109 received bipartisan support. The House of Representatives had already passed it the previous week. The stringent limitations imposed by SAB 121 have garnered significant opposition in Congress, highlighting the critical importance of revisiting current digital asset regulations.

    Upcoming Senate Election in Pennsylvania

    The upcoming Senate election in Pennsylvania between Bob Casey and Dave McCormick is shaping up to be highly competitive and closely watched. Both candidates are actively engaging in discussions related to digital asset regulations.

    The Senate's passage of H.J.Res. 109 underscores the significance of revisiting regulations on digital assets and cryptocurrency custody for financial institutions.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

AVAX Price Rises 17.5% Amid Surge in Trading Volume

chest

AVAX has seen a price increase of 17.5%, reaching $14.57, fueled by a surge in trading volume.

user avatarKaterina Papadopoulou

Ripio's Experience in Managing a $100 Million Crypto Treasury: Challenges and Insights

chest

Ripio navigates the challenges of managing a $100 million crypto treasury with robust security and a long-term strategy.

user avatarMaya Lundqvist

Ripio's Strategic Crypto Treasury Management: A Model for Success

chest

Ripio has demonstrated remarkable foresight in the volatile cryptocurrency market by systematically building its crypto treasury since 2017. By focusing on established assets like Bitcoin and Ethereum, the company showcases its commitment to sustainable growth rather than speculative trading.

user avatarLeo van der Veen

Regulatory Shift from LIBOR to SOFR in Interest Rate Swaps

chest

The transition from LIBOR to SOFR as the primary index for interest rate swaps requires active management by financial entities.

user avatarTenzin Dorje

Strategic Asset-Liability Management Using Interest Rate Swaps

chest

Interest rate swaps are essential for financial institutions in managing Asset-Liability Management (ALM) strategies, helping to mitigate risks and preserve net interest margins.

user avatarLi Weicheng

Interest Rate Swaps as Strategic Financial Tools

chest

Interest Rate Swaps (IRS) are essential financial instruments for CFOs and institutions, enabling firms to exchange interest payments, stabilize cash flows, and manage balance sheets effectively.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.