Rep. Mike Flood U.S. Representative for Nebraska's 1st District | Official U.S. House headshot
Rep. Mike Flood U.S. Representative for Nebraska's 1st District | Official U.S. House headshot
WASHINGTON, D.C. – U.S. Congressman Mike Flood issued a statement following a vote on overriding 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.
“Today’s vote sent a message that a bipartisan majority of the House continues to support repealing SAB 121,” said Rep. Flood. “Banks have long been America’s most trusted custodians, and regulators should work with them so they can provide the same services for digital assets that they have to other asset classes through the years. I will continue to work with my colleagues to pursue other pathways to end SAB 121 so that we can get government out of the way of growing our digital financial future.”
The vote was 228-184, falling short of the two-thirds majority needed to override a presidential veto.
Alerts Sign-up