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SAB 121 repeal

H.J.Res. 109 · 118th Congress · Congress.gov

What it does
Overturns SEC guidance requiring firms that hold customers' crypto to book it as their own liability, which kept banks out of crypto custody.
What happened
Passed both chambers in May 2024; vetoed; the House veto override failed in July 2024.
Scored as
Yea = bag-friendly. SAB 121 made custody expensive for banks. A yes vote is bag-friendly. The override vote is weighted lower because it repeats the House's earlier vote.

House · May 8, 2024

On Passage · weight 1 · Official roll call 189

Most Democrats voted Nay; most Republicans voted Yea.

228bag-friendly (Yea)D 21 · R 207 · I 0
182bag-hostile (Nay)D 182 · R 0 · I 0
19not voting / present
Every vote

bag-friendly

bag-hostile

Senate · May 16, 2024

On the Joint Resolution · weight 1 · Official roll call 169

Most Democrats voted Nay; most Republicans voted Yea.

60bag-friendly (Yea)D 11 · R 48 · I 1
38bag-hostile (Nay)D 36 · R 0 · I 2
2not voting / present
Every vote

bag-friendly

House · Jul 11, 2024

Veto override · weight 0.5 · Official roll call 355

Most Democrats voted Nay; most Republicans voted Yea.

228bag-friendly (Yea)D 21 · R 207 · I 0
184bag-hostile (Nay)D 183 · R 1 · I 0
21not voting / present
Every vote

bag-friendly

bag-hostile

Not voting