US President Joe Biden could face a veto on the issue of Public Accounting Bulletin 121 (SAB 121). It is expected to be voted on in the House of Representatives next week. 🗳️ SAB 121 requires companies reporting to the SEC and servicing cryptocurrencies to report these assets on their balance sheets. Opponents argue that SAB 121 could prevent US banks from servicing cryptocurrency exchange-traded products on a large scale. Overriding Biden's veto would require a two-thirds vote in the House and Senate.