It remains to be seen whether Biden will veto the measure, despite the fact that the independent Government Accountability Office (GAO) said the SEC inappropriately imposed the guidance. However, the important thing here is that sane, bipartisan, crypto rulemaking is possible, despite the opposition of figures like arch crypto skeptic Senator Elizabeth Warren (D-MA).
U.S. Administrative Procedure Law Exists for a Reason. The SEC Must Follow It
The regulator’s refusal to listen to dissenting opinion on its new Dealer Rule left us no option but to sue...