The US House of Representatives passed a resolution overturning the SEC's announcement on cryptocurrency accounting standards, with a vote of 228-182, showing clear partisan divisions. The announcement requires banks to record customer cryptocurrency assets as liabilities, causing industry controversy and concerns that it may hinder services. Republicans support the resolution, but the White House has stated that the President will veto the move, fearing it may cause financial instability. Democrats accuse the move of potentially weakening the SEC's authority. The resolution will now go to the Senate for review, facing more partisan controversy.
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U.S. House of Representatives passes resolution to overturn SEC cryptocurrency accounting standards announcement
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