🔥Hot off the press! U.S President Joe Biden has vetoed a resolution to repeal the SEC's SAB 121, a controversial guidance that critics say hampers financial institutions' ability to work with crypto companies. 🏦💼

Biden's stance? He's all for consumer and investor protection. He believes the resolution would limit the SEC's ability to set "appropriate guardrails" and address future issues. 🛡️🚧

But the veto didn't go down without a fight. Earlier, banking groups and Congress members penned letters to Biden, urging him to overturn SAB 121. They argue the guidance blocks banking groups from offering crypto custody services. 📝📬

Sen. Ron Wyden, a resolution supporter, claims the guidance creates a different standard for crypto than other assets in the financial sector. 📊💱

What do you think? Is the veto a step forward or backward for the crypto industry? Let's discuss! 💬👇 #CryptoNews #SECGuidance