SEC Suffers Embarrassing Blow To Anti-Crypto Bill, Ripple CLO Celebrates The Victory
Summary
The US SEC's anti-crypto bill, SAB121, requiring financial institutions to record crypto assets as liabilities, was rejected by the Senate with bipartisan support. Ripple's CLO celebrated the outcome, calling it a victory for the crypto industry. The bill's failure signifies a setback for the SEC's aggressive stance on crypto regulation and highlights the industry's growing influence in political and technological spheres. Pro-XRP lawyer criticized the SEC's actions as "regulatory insanity," accusing Senator Elizabeth Warren of using the SEC to advance her political agendas.
