United States 118th Congress Status: In Committee 1 R cosponsors

SJRES 59 — A joint resolution 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".

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform.A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act.

Bill Text

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does SJRES 59 do?
This joint resolution nullifies the rule issued by the Securities and Exchange Commission on March 31, 2022, titled Staff Accounting Bulletin No. 121. This bulletin provides accounting and disclosure guidance for entities related to their obligations to safeguard cryptoassets held for users of its platform.A letter of opinion from the Government Accountability Office dated October 31, 2023, titled Securities and Exchange Commission—Applicability of the Congressional Review Act to Staff Accounting Bulletin No. 121 concluded that this bulletin is a rule for purposes of the Congressional Review Act.
Who sponsors SJRES 59?
SJRES 59 is sponsored by Lummis, Cynthia M. (Republican).
What is the current status of SJRES 59?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SJRES 59?
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Last checked for changes 3 months ago · updated continuously

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