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President Joe Biden missed an opportunity to "correct" his stance on cryptocurrency assets by signing off on the repeal of controversial cryptocurrency accounting guidelines, according to the U.S. Department of Transportation. Crypto-loving Senator Cynthia Lummis shows it.
“Congress has given the Administration the opportunity to correct its stance on crypto assets,” Lummis declared in a May 31 statement at X after Biden’s veto of a congressional resolution that allowed the U.S. Securities and Exchange Commission (SEC) staff accounts. Bulletin (all) No.121.
Lummis said Biden violated "the will of the American people" by intervening and preventing the guidelines from being repealed. But he stressed his determination to keep fighting the issue.
“I will not stand by while the government tries to circumvent the law, and I will continue to fight to put in place financial innovations and basic protections for crypto assets that this government seems hell-bent on blocking encouraged,” Lummis wrote.
