President Biden rejects the bill that aimed to remove the contentious SEC crypto policy

1 min read

President Biden has used his veto power to reject legislation pertaining to crypto that was approved by both the House and the Senate. The law aimed to overturn the SEC’s guidelines that mandated some corporations to classify crypto assets as liabilities on their balance sheets, regardless of whether they were holding the assets on behalf of clients. Biden contends that the elimination of the advice will impede the SEC’s capacity