Biden vetoes SAB 121 bill: will not support measures that harm consumers
U.S. President Biden said he vetoed the resolution because "he will not support measures that endanger the well-being of consumers and investors."
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U.S. President Biden said he vetoed the resolution because "he will not support measures that endanger the well-being of consumers and investors."
Bipartisan lawmakers urge Biden to reconsider veto on SAB 121 repeal, citing concerns over crypto regulation and market stability.
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Senate's bipartisan approval of H.J.Res. 109 challenges SEC's SAB 121, pushing President Biden to decide amidst political and industry pressures.
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Following the FTX debacle, global regulators were reportedly in talks to implement global cryptocurrency regulations.
U.S. President Joe Biden ordered federal agencies in March to analyze the crypto industry in order to design better regulations protecting users.