According to PANews, Cody Carbone, Chief Policy Officer of the cryptocurrency advocacy organization, The Digital Chamber, has provided an update on the progress of SAB 121, a cryptocurrency accounting policy. He stated that the resolution H.J Res 109 to abolish SAB 121 was only sent to President Biden last night. This has altered the original 10-day deadline. The President now has a time window until June 3rd to decide whether to veto this resolution, excluding Sundays, which totals 10 days.
Previously, the resolution to overturn SAB 121 had passed the House of Representatives and the Senate votes on May 8th and May 17th respectively. President Biden was expected to make a final decision on this resolution before May 28th. However, with the recent developments, the decision is now pending until June 3rd.