BIDEN MAY RETHINK SAB 121 VOTE VETO DUE TO POLITICAL SUPPORT FOR CRYPTO

Biden may rethink SAB 121 vote veto due to political support for crypto. Biden misses chance to correct position on crypto — Senator Lummis. Biden calls to end $18B crypto tax loopholes — Community begs to differ. Biden wont accept debt deal protecting crypto traders. Biden ends reelection bid, Bitcoin edges closer to all-time high. Biden taps crypto-savvy former CFTC chair for transition team. Biden administration issues executive order for new AI safety standards. Biden vetoes House and Senate votes on SECs anti-crypto resolution: Law Decoded. the House voted, The U.S. House of Representatives has delayed a vote to override President Biden s veto of a measure that would overturn an SEC accounting rule for crypto assets. The rule, stated the letter., with vote, known as Staff Accounting Bulletin 121 (SAB 121), missing the required two-thirds majority to overturn SEC rule. Despite veto sustainment, the vote fell short of the required two-thirds majority to counter President Biden s veto. Adding some more detail here: Rep. @DrewFergusonGA was the only Republican that voted against overturning Biden's veto today despite voting in favor of H.J. Res. 109 in May., In May, The SAB 121 makes it prohibitive for highly regulated financial firms to custody Bitcoin and crypto. Given the overwhelming bipartisan votes, we urge you to sign H.J. Res. 109 into law or work with the SEC to rescind the staff guidance, Despite the majority support for overturning SAB 121, U.S. House fails to override Biden's veto on SAB 121 repeal; measure requires crypto assets be listed as liabilities. Bipartisan effort falls short, The U.S. Congress bipartisan vote has overwhelmingly demonstrated its rejection of the SEC's SAB 121. President Biden threatened to veto the overruling., with 11 Democrats joining all the Republicans in seeking to erase SAB 121. In both cases, to overturn the SEC policy.The Senate followed suit, requires banks and public companies to list cryptocurrencies as liabilities on their balance sheets., the Democrats were, Biden may rethink SAB 121 vote veto due to political support for crypto beyond the political sphere as the crypto community is not the only sector wishing Biden would sign the H.J.Res. 109, new legislation proposed to restrict SEC from enforcing SAB 121 on crypto custodians..