Political Quotes

“Madam Speaker, I yield myself such time as I may consume. Madam Speaker, no matter what is said, this is about overriding the President's veto. My colleagues argue that SAB 121 undermines the investor protection by discouraging crypto firms and other entities from providing custody services. However, the numbers show this couldn't be further from the truth. According to figures provided by SEC staff, at least 10 U.S. firms are already offering SAB 121-compliant crypto safeguarding services. As of the end of last year, they were safeguarding close to $210 billion worth of crypto assets in a SAB 121-compliant way. This just goes to show, despite all of the talk, that SAB 121 will lead to less companies wanting to safeguard crypto assets. There are, indeed, plenty of firms out there that are doing so in compliance with this staff accounting bulletin. Madam Speaker, I yield 1 minute to the gentleman from California (Mr. Sherman).”