71 Democrats joined their Republican colleagues in a rare bipartisan effort to repeal the SEC’s SAB-121 guidelines from earlier this year.
Congressperson John Curtis, a United States representative for the state of Utah, took the stage at Permissionless III with Utah Senator Mike Lee to discuss the future of digital asset policy in the country.
When asked if the bipartisan cooperation on the repeal of Staff Accounting Bulletin-121 (SAB-121) — which made it incredibly restrictive for banks to custody crypto — was making a comeback, the member of Congress responded, “I think so, but it’s very fragile.” He continued:
“So, I think it’s important to find connection points with Democrats” to reach a consensus on regulatory policy, Curtis concluded, before noting that fellow lawmakers had trouble understanding the complexity of cryptocurrencies.
