The U.S. Senate voted to overturn the SEC's controversial accounting rules for cryptocurrency assets
ChainCatcher news, according to information from the official U.S. Senate website, the Senate voted 60 to 38 to overturn the controversial SEC accounting rules for crypto assets.
It is reported that the SEC's previously issued Staff Accounting Bulletin 121 (SAB 121) required companies to record the crypto assets they hold on their balance sheets, but critics argue that this regulation is too stringent and effectively hinders major custodians and companies from holding crypto assets for their clients.
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