U.S. Congressman Mike Flood: Looking forward to working with the next SEC Chair to revoke the anti-crypto banking policy SAB 121

ChainCatcher News, the U.S. House of Representatives will address Congressman Mike Flood's recent statement: "Despite widespread opposition, SAB 121 continues to operate as a regulation, even though it has never gone through the normal Administrative Procedure Act process."

Flood stated: "I look forward to working with the next SEC Chair to rescind SAB 121. Whether Chair Gary Gensler resigns on his own or President Trump fulfills his (promise to fire Gensler), the new administration has a tremendous opportunity to usher in a new era post-Gensler."

He added: "Gensler's opposition to the bipartisan digital asset regulatory framework passed by the House earlier this year should come as no surprise. 71 Democrats joined House Republicans in passing this commonsense framework. Although the Democrat-led Senate refused to accept it, it represents a breakthrough moment for cryptocurrency and could inform the work of a unified Republican government when the next Congress begins in January."