Rep. Wiley Nickel criticizes the SEC’s approach to a controversial crypto accounting bulletin, raising concerns about the safety of digital assets. Learn more about the ongoing debate.
Rep. Wiley Nickel from North Carolina has voiced strong criticism against the Securities and Exchange Commission (SEC) regarding their management of a contentious bulletin outlining the proper accounting procedures for cryptocurrencies. In a recent development, the Democrat expressed concerns that the bulletin’s implementation could jeopardize the security of digital assets. This comes in the wake of the Government Accountability Office’s (GAO) stance, suggesting that the SEC should seek congressional approval before enforcing this bulletin.
During a House Financial Services subcommittee hearing, Rep. Wiley Nickel conveyed his satisfaction with the fact that Congress would now have an opportunity to influence this rule. Notably, Wiley serves as a member of the House Financial Services Subcommittee, specializing in digital assets, financial technology, and inclusion.