The move occurred at the same time as bitcoin surged 2.5% on spot markets elsewhere as investors reacted to the stock prices of two banks, Pacwest (PACW) and Western Alliance (WAL), plunging by more than 30% as concerns about the U.S. banking system resumed.
U.S. Senate Votes to Kill SEC’s Crypto Accounting Policy, Testing Biden’s Veto Threat
"It is clear there is overwhelming opposition to SAB 121, and I urge President Joe Biden to reconsider his previous...