President #JoeBiden has vetoed a bill SAB 121 aimed at overturning the SEC's controversial bulletin, which sets accounting standards for firms that custody crypto.

🗒 In a statement to the House, #Biden emphasized the importance of protecting consumers and #investors .

👀 Earlier, the House and Senate had voted in favor of repealing #SAB 121, with bipartisan support. However, overturning a presidential veto requires a two-thirds majority from both houses, making it a challenging endeavor.

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