🚀Hey #DeFi enthusiasts, the U.S. House is considering overturning Biden's veto of SAB 121 next week. This rule requires SEC-reporting entities holding crypto to list those assets on their balance sheets. 📑
😅 Critics say it could restrict U.S. banks from custodianing crypto ETPs on a large scale, benefiting non-bank entities. Overturning the veto needs a two-thirds majority in both House and Senate - a "steep hill to climb but not impossible," says crypto expert Alexander Grieve. 🏔️
🎉 In other news, the House passed the Financial Innovation and Technology for the 21st Century Act in May, aiming to clarify U.S. commodities and securities bodies' approach to crypto. 🎯
🗳️ As the 2024 presidential election heats up, both Biden and Trump are focusing on crypto-related issues. Kerri Langlais from Bitcoin mining company TeraWulf sees this as beneficial for the industry. 📈
👇 What's your take on these developments? Share your thoughts below! #Web3 #Technology #CryptoNews