According to The Block, the U.S. Senate has voted to repeal SEC’s anti-cryptocurrency rule SAB121, which has sparked significant debate over accounting requirements for cryptocurrency custodians. With the approval of both the Senate and the House of Representatives, the bill will be sent to President Biden’s office, where the White House previously stated that it may exercise veto power.
Will Biden vote against SAB121, the anti-encryption regulation, as the US House and Senate support its abolition?