“The SEC issued SAB 121 without conferring with prudential regulators despite the accounting standard’s effects on financial institutions’ treatment of custodial assets, and the SEC issued SAB 121 without going through the notice-and-comment process,” said Rep. Flood, in a statement. “In the face of overreach by a regulator, it is the role of Congress to serve as a check.”
Related posts
-
How a $115M Crypto Fund With Big Ambitions Plans to Invest In Latin America
One of the biggest roadblocks in converting Latin American investors to concept of crypto, is education... -
Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level
Bitcoin is leading the broader crypto market higher, outperforming the CoinDesk 20 Index with its 6%... -
U.S. Senator Elizabeth Warren Rises Into Role Where Crypto Sector Won’t Shake Her
The Banking, Housing, and Urban Affairs Committee has been under the chairmanship of Sherrod Brown, the...