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. Bidens Homeland Security team taps tech elite for AI defense board. Biden is asking Congress to kill the American Bitcoin mining industry. Biden administration announces key AI actions after executive order. Biden ends reelection bid, Bitcoin edges closer to all-time high. Biden taps crypto-savvy former CFTC chair for transition team. Bidens pick for CFTC chair wants the agency to be a beat cop with the authority to oversee 60% of digital asset market. Biden is hiring 87,000 new IRS agents — and theyre coming for you. Bidens comms director barred from former crypto clients: Report. Despite the majority support for overturning SAB 121, with vote, In May, we urge you to sign H.J. Res. 109 into law or work with the SEC to rescind the staff guidance, 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, 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, known as Staff Accounting Bulletin 121 (SAB 121), to overturn the SEC policy.The Senate followed suit, with 11 Democrats joining all the Republicans in seeking to erase SAB 121. In both cases, stated the letter., new legislation proposed to restrict SEC from enforcing SAB 121 on crypto custodians., The SAB 121 makes it prohibitive for highly regulated financial firms to custody Bitcoin and crypto. Given the overwhelming bipartisan votes, The U.S. Congress bipartisan vote has overwhelmingly demonstrated its rejection of the SEC's SAB 121. President Biden threatened to veto the overruling., 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., missing the required two-thirds majority to overturn SEC rule. Despite veto sustainment, 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, requires banks and public companies to list cryptocurrencies as liabilities on their balance sheets., the Democrats were..