The House Judiciary Committee passed the Censorship Accountability Act and the Forfeiture Funds Expenditure Transparency Act. Lawmakers are pushing to repeal the SEC's Staff Accounting Bulletin 121, which hinders regulated banks from serving as digital asset custodians. The bipartisan resolution aims to nullify the unlawful rule using the Congressional Review Act.
Today, the House Judiciary Committee passed two bills that I sponsored. HR 4848, the Censorship Accountability Act, and HR 2595, the Forfeiture Funds Expenditure Transparency Act. I look forward to both of these bills being passed by the full House of Representatives soon. https://t.co/yLkKoGSfvZ
PROGRESS ✅ SAB 121 passed out of Committee today with bipartisan support! It’s headed to the House floor. Our team will continue to push for a full repeal of SAB 121 to help drive digital asset adoption. https://t.co/xjZAvnSE58 https://t.co/VYw6mzHtri
Today, @JudiciaryGOP passed the Censorship Accountability Act, which will empower Americans to sue federal officials who violate their First Amendment rights. Watch my remarks in support of this bill ⬇️ https://t.co/FPImsov7LR
#NEW: Lawmakers on the House Financial Services Committee pass a bipartisan slate of digital asset, housing, and national security legislation. Read more 🔗 https://t.co/tztfW7If5o
Good news: @FinancialCmte just voted to repeal SAB 121, the SEC's unlawful rule requiring custodians to double-count crypto liabilities on their balance sheets. Bad news: that's likely the end of the story in Congress. Getting repeal done is nearly impossible. Lawsuit or bust. https://t.co/4X4mGW7Nl4
Thank you @RepWileyNickel and @USRepMikeFlood for their hard work here. Nullifying SAB 121 is an important step for investor protection and to support the legal rulemaking processes. Excited to watch this Joint Resolution move forward. https://t.co/h4kTHsle0f
🚨BIG NEWS! The bipartisan push from @RepWileyNickel @USRepMikeFlood and @SenLummis to nullify @SECgov’s SAB 121 has successfully passed markup and is on its way to the House floor. Check out our full statement below 👇 https://t.co/uR7dgPYtlk
.@RepJerryNadler delivers his opening statement for the markup of HR 2595, the Forfeiture Funds Expenditure Transparency Act. https://t.co/bkjtt0OfcA
Wrong. Despite the SEC blatantly violating the APA to issue SAB 121, the impractical bank capital requirements make it impossible for banks to manage crypto assets. This creates an investor protection issue. @BetterMarkets is supporting SAB 121 and the SEC’s violation of the… https://t.co/KoYpBaKiQc
.@GaryGensler is violating the SEC’s statutory mission with SAB 121. We must pass @USRepMikeFlood's resolution so Chair Gensler’s illegal rule ceases to be in effect. See my remarks on the resolution below. https://t.co/cn8HQV2cAb
🚨🚨🚨 Our Censorship Accountability Act just PASSED out of @JudiciaryGOP and is now heading to the House floor.✅ Not a single Democrat voted in favor of protecting the #1A and holding gov't censors accountable.
The Security and Exchange Commission’s Staff Accounting Bulletin (SAB) 121 would leave consumers at risk by discouraging regulated banks from serving digital asset customers. My full remarks in opposition ⬇️. https://t.co/ymXqNxHxgD
.@SECGov has virtually locked out the most regulated institutions from serving as custodians for digital assets. It’s time to roll back SAB 121 and to stop @GaryGensler’s overreach. https://t.co/n3xWRhPMWq
The @SECGov's Staff Accounting Bulletin 121 leaves consumers unprotected by deterring regulated banks from being digital asset custodians. @USRepMikeFlood and @RepWileyNickel's bipartisan resolution reverses this unlawful rule using the Congressional Review Act. https://t.co/RdrA3HfdFV
.@RepJerryNadler delivers his opening statement for the markup of H.R. 4848, the Censorship Accountability Act. https://t.co/XnPFdxz0vA
WATCH: my full opening statement in our @JudiciaryGOP markup of the Censorship Accountability Act. Every supporter of the First Amendment should vote for our bill. https://t.co/byFKYk0L47