The Biden administration has decided to block a Republican-backed bill that would have allowed U.S. banks to offer crypto custody services.
On Wednesday, the House of Representatives discussed House Resolution 109 (H.J. Res. 109), which aimed to overturn previous accounting guidance from regulators. This guidance had been a significant hurdle for banks planning to provide crypto custody services to their customers. Despite the push from Republicans, the Democrat-led White House is set to put an end to this effort. #TelegramCEO #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021