Michael Saylor: Does the Senate want Bitcoin?

MicroStrategy co-founder Michael Saylor celebrates the recent victory of the cryptocurrency industry in the Senate on X social media network.
"Wall Street wants Bitcoin, the House wants Bitcoin, and now the Senate wants Bitcoin," he posted on the X social media network. Earlier this week, the Senate voted 60 to 38 to reject the controversial "SAB 121" announcement by the Securities and Exchange Commission (SEC)."
Senate Majority Leader Chuck Schumer (Democrat from New York) and several Democrats, along with Republicans, rejected the SEC's guidance.
The leading blockchain trade association, Digital Chamber, is "excited" to celebrate the passage of the repeal of SAB 121 resolution. Robert Leshner of Compound Labs called it the "first of many victories in cryptocurrency industry legislation."
This controversial rule requires banks that safeguard encryption assets to record them as liabilities on their balance sheets. Critics argue that this will prevent banks from providing custody services for digital assets.
Founder and Managing Partner of Zero Knowledge Consulting, Austin Campbell, said that the SEC's unilateral adoption of this rule could jeopardize the rights of cryptocurrency holders. He stated, "There is no economic reason to hold non-corporate assets, and doing so is clearly intended to prevent regulated financial entities from providing custody services." He further pointed out that this guidance benefits unregulated custodians.
According to USA Today, the US House of Representatives voted against the guidance on May 9. #比特币新闻 Michael Saylor

(From U Today)