Senator Cynthia Lummis, McHenry Push US SEC To Revoke SAB 121

Quick Summary:

Senator Cynthia Lummis and House Financial Services Committee Chairman Patrick McHenry have called on the US Securities and Exchange Commission (SEC) to retract Staff Accounting Bulletin 121 (SAB 121).

They contend that this accounting rule overstates the legal obligations of the custodians and exposes consumers to more risk.

Gensler is expected to face pointed questions from lawmakers about the agency’s enforcement actions in the digital asset sector.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: Patrick mchenry 24/7 Cryptocurrency News Regulation News SAB 121 Bill Cynthia Lummis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 00:38:36 (6 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 525 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22678330

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

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Year Established: 2017

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News Last Updated: 10 hours ago

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