The resolution would have repealed the Securities and Exchange Commission’s Staff Accounting Bulletin 121, which sought to force financial institutions that are holding crypto to keep the digital assets on their own balance sheets, as Coindesk recently explained.
Can someone explain why they are so upset at this?
Bitcoin is exceptionally traceable, this seems more about preventing banks and financial firms from hiding solvency issues from SEC and the public's analysis by off sheeting crypto holdings.
