Staff Accounting Bulletin No. 121 (SAB-121)

Gary Gensler sending electric shocks into a blockchain planet.
Crypto Market News
SEC’s Gary Gensler Doubles Down on Controversial Rule SAB 121

Gary Gensler defends the controversial SEC rule SAB 121, despite mounting criticism from lawmakers and the cryptocurrency industry.
by . Fact checked by: Ewan Lewis, Editor: Stefan Trapp
Biden angry at crypto trading.
Regulations
US Banking Lobby Made Last-Ditch Effort to Block SAB 121 Veto

The American Bankers Association (ABA) has surprised many by advocating for cryptocurrency in a letter to President Biden.
by . Fact checked by: Ewan Lewis, Editor: Stefan Trapp
Stuart Alderoty celebrating with confetti flying all around him.
Ripple (XRP)
Ripple CLO Praises Senate Victory Over SEC’s Overreach

A top lawyer at Ripple has applauded the US Senate's rejection of a controversial SEC crypto regulation proposal.
by . Fact checked by: Ewan Lewis, Editor: Stefan Trapp
Gary Gansler looking disappopinted with the voting that is going on around him, visualised by many colourful hands.
SEC
Senate’s Victory Over SEC Threatened by Potential Biden Veto

The SEC faces increased opposition as the Senate votes to overturn SAB 121. However, there's a twist.

by . Fact checked by: Ewan Lewis, Editor: Stefan Trapp
Gary Gensler trying to figure out what's on the other side of a red door.
SEC
Senate Shuts Down SEC Plans: Does It Spell Doom for Gensler?

Amidst the SEC's proposed SAB 121 ruling, tensions rise as it impacts banking institutions and the cryptocurrency industry's regulatory landscape.
by . Fact checked by: Ewan Lewis, Editor: Stefan Trapp