Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»The US Senate has voted to overturn SEC rules and allow regulated companies to hold Bitcoin.
TRADING NEWS

The US Senate has voted to overturn SEC rules and allow regulated companies to hold Bitcoin.

By Crypto FlexsMay 17, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The US Senate has voted to overturn SEC rules and allow regulated companies to hold Bitcoin.
Share
Facebook Twitter LinkedIn Pinterest Email
  • The Senate voted 60-38 to overturn the SEC rule.
  • Bipartisan support signals potential changes to cryptocurrency regulation.
  • Presidential veto possible.

In a landmark decision, the U.S. Senate voted to overturn a key Securities and Exchange Commission (SEC) rule that bars regulated financial companies from holding Bitcoin and other cryptocurrencies.

The bill, known as HJ Res. Bill 109, previously passed by the U.S. House of Representatives with bipartisan support and Senate support, represents a potential shift in the regulatory environment for digital assets in the United States.

Bipartisan support for HJ Res. 109 twist

The SEC’s decision to overturn Staff Accounting Bulletin (SAB) 121 received significant bipartisan support in both the House and Senate.

The rule, which has been in effect for two years, prohibits regulated financial institutions from holding cryptocurrencies.

But lawmakers voted 60-38 in the Senate and 228-182 in the House to repeal the restrictions.

Supporters of the bill argue that allowing regulated entities to hold cryptocurrencies would provide consumers with more choices and opportunities in the rapidly evolving digital asset market. They argue that regulators are well prepared to deal with the risks associated with storing cryptocurrencies, given existing compliance frameworks and security protocols.

potential presidential veto

After overwhelming support in Congress for overturning SEC rules, the bill now faces its final test on U.S. President Joe Biden’s desk.

The White House has indicated that the bill could be vetoed, citing concerns that it would interfere with the SEC’s work to protect investors in the cryptocurrency market, but supporters have emphasized the importance of Biden allowing regulated companies to participate in the custody of cryptocurrencies. I’m still hopeful that they will recognize it.

Critics of the SEC’s rules argue that they stifle innovation and hinder the ability of financial institutions to meet the growing demand for cryptocurrency services. They point to the SEC’s recent approval of a spot Bitcoin exchange-traded fund (ETF) as evidence of growing mainstream acceptance of cryptocurrencies and the need for regulatory flexibility in this rapidly evolving field.

The Senate’s decision received an enthusiastic response

The decision to overturn the SEC rules has stoked enthusiasm among industry stakeholders, who see it as a positive step toward institutional adoption of cryptocurrencies. Many believe that allowing regulated financial companies to hold cryptocurrencies will help legitimize the asset class and attract more institutional investors.

However, some industry experts warn that regulatory clarity is still needed to ensure long-term stability and growth of the cryptocurrency market. They emphasize the importance of maintaining a balance between innovation and investor protection to foster a healthy and sustainable ecosystem for digital assets.


Share this article

category

tag

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025
Most Popular

ZKsync announces $3.67 billion ZK token airdrop to 695,000 wallets next week.

June 11, 2024

Bitcoin ignores US jobs data as Bitcoin price abandons $66,000 support.

May 17, 2024

Spanish police arrested over $ 6 AI -based investment fraud.

April 8, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.