• 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

2 years 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

Solana's Quantum Readiness Strategy Under Scrutiny

chest

Solana's quantum readiness strategy is under scrutiny following Anatoly Yakovenko's comments on the need for a multi-scheme approach to enhance security against AI threats.

user avatarLeo van der Veen

South Korean Exchanges Win Temporary Relief from Regulatory Sanctions

chest

Three major South Korean crypto exchanges, Upbit, Bithumb, and Coinone, have secured temporary court relief from sanctions related to existing anti-money laundering requirements.

user avatarLi Weicheng

Anatoly Yakovenko Raises Concerns Over AI's Impact on Post-Quantum Cryptography

chest

Solana cofounder Anatoly Yakovenko warns that AI could expose vulnerabilities in post-quantum signature schemes, emphasizing the need for a robust security design.

user avatarMaya Lundqvist

DAXA Challenges New Anti-Money Laundering Regulations in South Korea

chest

DAXA opposes proposed changes to South Korea's anti-money laundering regulations, citing concerns over excessive reporting requirements.

user avatarAisha Farooq

MoneyGram's Stablecoin Service Expands to Colombia and El Salvador

chest

MoneyGram has launched its stablecoin service in Colombia and expanded to El Salvador, providing financial solutions for underserved markets in Latin America.

user avatarTenzin Dorje

Stellar Network Surpasses 1 Billion in Real-World Assets

chest

The Stellar network has crossed the 1 billion mark in real-world assets, indicating significant growth and momentum.

user avatarBayarjavkhlan Ganbaatar

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.