Will Democrats defy Biden and pass the pro-crypto SAB 121 again?
Weeks after President Biden vetoed a bill allowing American banks to hold crypto assets, Congress is revisiting it. Lawmakers aim for a veto-proof majority this time.
If both chambers pass the bill, it would be a significant win for the U.S. banking sector and a clear message to the White House about unpopular crypto policies.
Crypto experts in Washington believe there's a chance SAB 121 could pass. The initial repeal surprised many, and recent votes show growing support among House Democrats.
Repealing SAB 121 would allow banks to hold crypto assets, which the SEC currently prohibits. This change is crucial as financial products like Bitcoin and Ethereum ETFs gain traction.
Democrats may see this vote as a chance to show independence from Biden's policies, especially with growing Republican support for crypto.
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