According to ChainCatcher, according to DL News, Pantera Capital analysts said that Biden's move to please the crypto industry was sincere. Although he recently blocked a bill that was seen as supporting crypto (SAB 121), his veto was more likely because he was unwilling to publicly oppose the commissioner he appointed (SEC Chairman Gary Gensler). Even if he vetoed the SAB 21 bill, Biden also affirmed his favorable stance on onshore crypto innovation, indicating a shift in the tone of the current government.

It is worth noting that Biden did not veto a more important bill, the cryptocurrency-supporting FIT21 bill, which was passed by the House of Representatives in mid-May and will continue to develop with the Senate's deliberations.