Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
Rep. Mike Flood, U.S. Representative for Nebraska's 1st District | Rep. Mike Flood Official Headshot
WASHINGTON, D.C. – U.S. Congressman Mike Flood issued a statement today following President Joe Biden's veto of H.J. Res. 109, a measure aimed at repealing the U.S. Security and Exchange Commission’s Staff Accounting Bulletin 121 (SAB 121). Rep. Flood is the original introducer of H.J. Res. 109.
"While President Biden’s veto is disappointing, it isn’t the last word on SAB 121," stated Flood. "Digital assets and cryptocurrency are here to stay and are a critical part of America’s financial future."
Flood emphasized the role of banks as trusted custodians in America and urged regulators to collaborate with them to extend their services to digital assets similarly to other asset classes.
"I will continue to work with my colleagues to find ways to end SAB 121 and push back on Chair Gensler’s anti-crypto agenda," he concluded.
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