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House Votes to Erase SEC Crypto Policy While President Biden Vows Veto

“Gary Gensler, in his jihad against digital assets, used what is supposed to be mundane staff accounting guidance to essentially freeze out large publicly traded banks from taking custody of digital assets,” said Rep. Mike Flood (R-Neb.), the effort’s sponsor, in a Wednesday interview with CoinDesk. And the SEC didn’t consult with the banking regulators about it, Flood pointed out, arguing that Gensler “doesn’t have any business in the banking world.”

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