Wyoming’s esteemed U.S. Senator, Cynthia Lummis, has strongly criticized President Joe Biden’s decision to reject a significant proposal that aimed to disapprove the Securities and Exchange Commission’s Staff Accounting Bulletin No. 121 (SAB 121). Lummis emphasized that the bipartisan-supported measure, known as H.J. Res. 109, aimed to put an end to the Securities and Exchange Commission’s practice of using accounting bulletins as a basis for establishing policies. The Senator firmly asserted that by vetoing this measure, President Biden is perpetuating his ineffective policies that negatively impact American consumers. Undeterred, Lummis has vowed to persist in her fight to champion financial innovation and crucial safeguards for crypto assets, despite the Biden administration’s determination to stifle them.
