President Biden has vetoed a resolution that aimed to roll back a decision made by the Security and Exchange Commission (SEC) regarding crypto custody services. The resolution had bipartisan support in Congress but faced opposition from the Biden administration. The President defended the SEC’s judgment, stating that overturning it could undermine the agency’s authority and potentially harm consumers and investors. This move highlights the ongoing battle over regulations for digital assets, with Biden expressing openness to working with Congress on a balanced regulatory framework. The veto comes at a time when cryptocurrency is becoming an important campaign issue, with former President Trump also courting the crypto vote.
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President Biden Vetoes Pro-Crypto Resolution, Defends SEC’s Judgement
