White House Did Not Veto Cryptocurrency Bill

The US administration did not veto the bill supported by the cryptocurrency community.

According to the statement made by the White House, the Financial Innovation and Technology bill in the 21st Century will not be vetoed.

This bill aims to eliminate legal uncertainties in the cryptocurrency sector and determine the limits of jurisdiction between the SEC and the CFTC.

The White House announced that the bill in its current form does not adequately protect investors and that it should continue to work with Congress to achieve this. The administration stated that it "opposes" the bill, but did not threaten to veto it.

US Securities and Exchange Commission (SEC) Chairman Gary Gensler criticized this bill, saying it would put cryptocurrency and capital markets at risk.