Yun Zhongjun has compiled some news about the market trend for your reference! ! !

Three major cryptocurrency events worth watching next week:

The cryptocurrency industry is preparing to make key decisions, and next week, Washington, DC will host three major events. These events are of great significance to the US crypto industry

1. Biden's potential veto on repealing SAB 121: The Senate recently passed HJ Res. SAB 109, which overturned SEC Staff Accounting Bulletin No. 121. SAB 121 restricts financial institutions from acting as digital asset custodians.

Although the Senate passed the bill by a rare bipartisan vote of 60 to 38, President Biden, who favors Senator Warren and the SEC's Gensler, threatened last week that he would use his veto if the resolution reaches his desk.

Biden still has about 9 days to make a decision, and his choice will greatly affect the SEC's excessive intervention in the crypto industry.

2.SEC decision on Ethereum ETF: The U.S. Securities and Exchange Commission (SEC) will make a decision on VanEck's Ethereum ETF spot application on Thursday.

Although many believe that SEC Chairman Gary Gensler will reject it, political pressure is increasing. Democrats are worried that anti-crypto stances could hurt their electoral prospects.

3. House vote on FIT21 bill: The Financial Innovation and Technology for the 21st Century Act (FIT21) is scheduled to vote in the House of Representatives on Wednesday or Thursday.

This important crypto legislation aims to clarify the regulatory responsibilities of the SEC and CFTC for digital assets. The bill has received strong support from the pro-crypto faction in Congress.

A letter from the Crypto Innovation Committee signed by companies such as Coinbase and Circle encouraged lawmakers to support the passage of the bill.

"There is no doubt that regulatory clarity is more responsible, safer for consumers, and preferable to the status quo," said CCI.

Next week, all eyes will be on the U.S. government, and the decisions of President Biden, the SEC, and the House of Representatives will be crucial to the regulatory landscape of the crypto industry.

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