Tag: Cory Booker

U.S. Senate Passes Resolution to Overturn SEC’s Crypto Accounting Bulletin

Compliance Charlene Lensburg - May 17, 2024

The U.S. Senate has passed a resolution aimed at overturning the U.S. Securities and Exchange Commission's (SEC) Staff Accounting Bulletin 121 (SAB 121). This bulletin establishes specific accounting standards for firms that custody cryptocurrencies, mandating that firms holding cryptos on behalf of customers record these holdings as liabilities on their balance sheets. The resolution, passed with a 60-38 vote, now moves to President Joe Biden's desk, where it is expected to be vetoed.

U.S. Congressional Delegation Petitioned Over Detained Binance Executive in Nigeria

Crypto Schemes tamir - March 30, 2024

In a significant development in the Binance Nigeria case, the spouse of Tigran Gambaryan, a top executive at Binance, has called upon a U.S. Congressional delegation visiting Nigeria to facilitate the release of her husband from Nigerian custody. This appeal comes amidst a broader crackdown by the Nigerian government on cryptocurrency-related activities within its jurisdiction.

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