U.S. Senate passes H.J Res 109 - Congressional DISAPPROVAL of SAB 121

Rejection of SAB 121.
Senator Warren lost big today. (even Senator Schumer voted Yes on this).

...but then again, Biden has stated he'll veto it :)

Let's watch and see.

Why does this matter for bitcoin? SAB 121 was a slight of hand trick, published by the SEC staff WITHOUT the approval of the majority of the commission. It's the SEC trying to unilaterally impose restrictions on financial institutions on bitcoin and other crypto assets, making it non-viable to do conduct business in this area. It poses a systemic regulatory hurdle for bitcoin adoption.