Eleven Democrats voted to repeal SAB-121

Eleven Senate Democrats joined Republicans in a 60-38 vote to repeal SAB-121. Source: The CEDAR Innovation Foundation
And that's not anything the Republicans are doing. Americans are going here. The biggest banks in the nation — BNY Mellon and so many others have been in the business of custodying people's assets for 200 some years, and they don’t want to be left on the sidelines.

A lot of members are going on CODELs [congressional delegations] to countries like Singapore and the UAE and the European Union and they're hearing about digital asset frameworks that are being set up there, and they're coming back to Congress, saying, “Why are we — the world's superpower when it comes to financial services — not even in the game?”

I think it's been very organic. I don't think any member of Congress can take credit for what's changing. People are just embracing it and members are starting to react.