๐Biden's veto on a resolution to overturn SEC's SAB No. 121 has the crypto world in a tizzy! ๐ "A slap in the face to innovation and financial freedom," says Digital Chamber's Cody Carbone.
Despite bipartisan support in Congress, Biden's sticking to his guns, arguing that opposing the guidelines could undermine SEC's authority. ๐คทโโ๏ธ
The crypto accounting guidelines in question require institutions to record crypto assets as liabilities on their balance sheets.
๐ฃ๏ธ "My Administration will not support measures that jeopardize consumers and investors," says Biden. But the crypto community disagrees, arguing that this decision stifles innovation.
What's your take on this? Is this a setback or a necessary measure for consumer protection? Sound off in the comments! ๐ฃ #DeFi #Web3 #CryptoNews