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March 1, 2024

House Financial Services approves bills on SEC's crypto custody rule, cyber money-laundering, HUD Secretary

Three Democrats support GOP's CRA resolution to overturn crypto accounting rule

The House Financial Services Committee on February 29 held a markup of bills related to the SEC's accounting rule for custody of cryptocurrency funds, money laundering via digital assets, wildfire insurance and transparency on the part of the Department of Housing and Urban Development. The committee originally had intended to mark up a larger group of 12 bills but chose to truncate the session after House leaders moved to hold the week's final series of votes on Thursday afternoon instead of Friday (March 1). Materials from the markup are available here. The bills marked up were:

  • H.J. Res. 109, providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121" (Rep. Flood, R-NE)
  • HR 6864, the HUD Accountability Act (Rep. Lawler, R-NY)
  • HR 7280, the HUD Transparency Act (Rep. De La Cruz, R-TX)
  • HR 7156, the Combating Money Laundering in Cyber Crime Act (Rep. Fitzgerald, R-WI)
  • HR 7462, the Wildfire Insurance Coverage Study Act (Ranking Member Waters, D-CA)

Additional information is available in the attached WCEY Alert.

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House Financial Services markup

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Contact Information

For additional information concerning this Alert, please contact:

Washington Council Ernst & Young