House Republicans Demand SEC Recind ‘Disastrous’ SAB 121

In a resounding rebuke, House and Senate Republicans have lambasted the SEC’s issuance of SAB 121, labeling it a blatant disregard for the established notice and comment rulemaking process mandated by the Administrative Procedure Act. This contentious move has sparked heated debate within the crypto community, with many arguing that SAB 121 represents a significant overreach by the SEC, stifling innovation and creating unnecessary regulatory uncertainty.