On May 22, the US House of Representatives passed the bill "Innovation and Financial Technology for the 21st Century," sponsored by the Republican Party, with a ratio of 279 votes in favor and 136 votes against. But it was vetoed by President Biden
This is a bill passed by both houses of Congress that allows US banks to hold crypto assets
The bill aims to create a new regulatory framework for virtual currencies, despite warnings from the US Securities Exchange Commission (SEC) that the bill could create new financial risks. Supporters of the bill in Congress say the bill will provide regulatory clarity and help spur the growth of the virtual currency sector.
This would also send a clear message to the White House that the US's fragmented political system can finally agree on one thing: the Biden administration's crypto policies are highly unpopular.
Furthermore, the two-thirds vote now needed to override Biden's veto would require a significant U-turn from Democrats, at a time when the president is trying to block calls from within his own party. to give up his struggling re-election bid after his recent disastrous televised debate.
Furthermore, the vote comes at an unprecedented moment in modern American politics, as Democratic lawmakers are struggling to express their displeasure with an increasingly unpopular candidate. without causing their party to fall into open rebellion. “There is also a view that because Trump is pro-crypto, it may have changed the dynamic and added fuel to the fire from Biden because Trump is an opponent. heavyweight player
“This latter vote will reveal your elected officials' true stance on crypto,” Tennessee Senator Bill Hagerty said on Tuesday afternoon, regarding the upcoming vote to repeal SAB 121. “The vote last time was predetermined by Biden's veto threat—this time it's real.”
“Pro-innovation Republicans have made our position clear,” he added. “Will Democrats have the courage to join us?”
👉 With political participation from bills as well as sell-off situations #bitcoin☀️
of the governments of the US and Germany, it is a gloomy thing for bitcoin in particular and the electronic money system in general.
$BTC $ETH $SOL
