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House Resolution to Overturn Controversial SEC Rule Likely to Pass in Senate: Sources

Summary

House proposal to revoke SEC's Staff Accounting Bulletin 121 likely to pass Senate vote. SAB 121 explains accounting for crypto assets, criticized for deterring custodians from holding crypto. House resolution aims to disapprove bulletin and block similar guidance, despite White House threat to veto. Bipartisan support expected, but presidential veto remains a concern.

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