Critical SEC Decision on Gary Gensler’s SAB 121 Policy: Potential Impact on Bitcoin (BTC) and Crypto Market

• SEC Chairman Gary Gensler’s SAB 121 policy is awaiting a major decision this week as the House of Representatives is gearing up to decide on the revocation of this regulation.
• Rep. Mike Flood is advocating for the revocation of the SAB 121 policy.
• The SAB 121 regulation, spearheaded by SEC Chairman Gary Gensler, is seen as an obstacle for the crypto community.

The fate of the Security and Exchange Commission’s Staff Accounting Bill (SAB) 121 hangs in the balance as the House of Representatives prepares for a decisive vote. The proposed repeal, led by Representative Mike Flood, could significantly impact digital asset regulation.

The House To Decide On Repeal Of Gary Gensler’s SAB 121

Rep. Flood is fervently advocating for the passage of H.J. Res. 109. In a post on X, Flood revealed that the House is going to vote on whether to pass the repeal of SEC Chair Gary Gensler’s SAB 121 policy. Furthermore, he declared, “It’s time to pass H.J. Res. 109! #RepealSAB121,” setting the stage for a contentious showdown within the House of Representatives.

SAB 121 and Its Impact on the Crypto Community