U.S. Representative Mike Flood stated that despite widespread opposition to SAB 121 regulations, they are still in effective operation and have not gone through the normal Administrative Procedure Act process. He looks forward to working with the next SEC chair to overturn this policy, whether Gensler leaves on his own or is dismissed. Flood pointed out that Gensler opposed the digital asset regulatory framework passed by the House, which had the support of 71 Democrats and Republicans. Although the Senate rejected it, it marks a breakthrough for cryptocurrencies and could provide insights for a Republican government in the next Congress.

Odaily Planet Daily reported that the U.S. House of Representatives will address Congressman Mike Flood's recent statement: "Despite widespread opposition, SAB 121 continues to operate effectively as a regulation, even though it has never gone through the normal Administrative Procedure Act process." Flood stated, "I look forward to working with the next SEC Chairman to repeal SAB 121. Whether Chairman Gary Gensler resigns on his own or President Trump fulfills his promise to dismiss Gensler, the new administration has an excellent opportunity to usher in a new era following Gensler's departure." He added, "Gensler's opposition to the digital asset regulatory framework that passed the House on a bipartisan basis earlier this year should not be surprising. Seventy-one Democrats joined House Republicans in passing this common-sense framework. Although the Democrat-led Senate refused to accept it, it represents a breakthrough moment for cryptocurrency and could inform the work of a unified Republican government when the next Congress begins in January."

U.S. Representative Mike Flood looks forward to collaborating with the new SEC Chair to rescind SAB 121.