Republican lawmakers from both the Senate and House have called on the Securities and Exchange Commission (SEC) to retract a controversial accounting rule for cryptocurrency assets.
What Happened: The rule, known as SAB 121, has become a point of contention in the ongoing regulatory debate around digital assets.
This move comes as the crypto industry continues to grapple with regulatory uncertainty, and industry experts, including Custodia Bank CEO Caitlin Long, who is scheduled to speak at Benzinga’s Future of Digital Assets conference on Nov. 19, are speaking out about the need for clearer, more balanced frameworks.
Long has consistently emphasized that regulation should encourage the growth of the crypto industry without unnecessary overreach. At previous Benzinga events, Long stressed the importance of allowing blockchain technology to thrive in the U.S. while implementing safeguards to protect against market abuses.
Why It Matters: SAB 121 is one of the rare issues in the cryptocurrency space that has united both chambers of Congress.
It is the only crypto-related legislation to pass through the House and Senate, although it was vetoed by the White House in May.
What Lawmakers Are Saying: In …
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