US President Joe Biden signed a veto on Friday to overturn Congress's joint decision to repeal controversial SAB121 guidelines from the Securities & Exchange Commission (SEC).
US President Joe Biden signed a veto decision to overturn the reversal of SAB121, which Congress passed. The veto stirs doubts among crypto community members amid speculations that the President seeks to turn pro-crypto. Biden seeks to work with Congress on legislation addressing the digital asset markets. US President Joe Biden signed a veto on Friday to overturn Congress's joint decision to repeal controversial SAB121 guidelines from the Securities & Exchange Commission .
One week later, the Senate had a 60-38 vote, which sealed the overturn but did not make it veto-proof. President Joe Biden's action against the overturn may not be as much of a surprise, even though some crypto community members are in shock. Biden had hinted at a veto in a statement earlier, describing the dangers it may constitute. In the statement for the veto, Biden added that his administration will not support any measures that jeopardize the well-being of consumers and investors.
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