The US House of Representatives may vote next week on President Biden's veto of Staff Accounting Bulletin 121 (SAB 121). This proposed rule requires SEC-reporting entities holding cryptocurrencies to record them on their balance sheets. Critics argue that SAB 121 could hinder American banks from custodying cryptocurrency exchange-traded products at scale, potentially creating a "concentration risk." Overturning Biden's veto would need a two-thirds majority vote from both the House and Senate. The Financial Innovation and Technology for the 21st Century Act, which provides clarity on how US regulators handle crypto-related matters, was previously approved by the House.