Staff Accounting Bulletin 121 (SAB 121), US President Joe Biden's controversial veto, could be voted on by the House of Representatives next week. SAB 121 is a rule that requires SEC-reporting entities to record cryptocurrencies on their balance sheets and is currently on the House of Representatives' list of "bills that may be considered."

It is a constitutional obligation of the House of Representatives to vote to override or confirm the president's veto, so it must vote again. Voting could take place on Tuesday or Wednesday.

A resolution to override the SAB 121 rule received bipartisan support in the House (228-182 votes) and Senate (60-38) before being vetoed by Biden in May.

However, a two-thirds majority vote from both the House and the Senate would be required to override Biden's veto. In May, only 55.6% and 61.2% of House and Senate members voted for the resolution, meaning more support from Democrats is needed this time around.

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