United

Biden

Bitcoin

Joe Biden

<p>The regulatory saga surrounding crypto takes an unexpected new turn. According to a recent statement, U.S. President Joe Biden is considering vetoing legislation aimed at easing regulations governing the holding of Bitcoin and other cryptocurrencies by financial institutions.</p>
<h2 id="h-biden-s-veto-a-setback-for-bitcoin">Biden’s Veto, a Setback for Bitcoin</h2>
<p>This turn of events comes as a cold shower for the crypto sector. Indeed, many stakeholders were placing their hopes in this future law to promote greater adoption of Bitcoin within the <a href="https://www.cointribune.com/en/bitcoin-one-of-europes-largest-banks-invests-in-blackrocks-etf/" target="_blank" rel="noopener noreferrer nofollow">traditional financial system</a>.</p>
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<p>Yet, the White House seems to hold its ground. According to the statement, President Biden is firmly opposed to the bill if presented to him as is. A potential veto that could significantly complicate efforts to integrate Bitcoin and other cryptocurrencies into established financial practices.</p>
<p>For the Biden administration, this <a href="https://www.whitehouse.gov/wp-content/uploads/2024/05/SAP-HJRes109.pdf" target="_blank" rel="noopener noreferrer nofollow">possible rejection</a> aims to preserve the effectiveness of the SEC in its mission to protect investors and market stability. A significant argument, but one that risks fueling tensions with entrepreneurs and crypto investors frustrated by this unstable regulatory climate.</p>
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<h2 id="h-persistent-concerns-surrounding-the-crypto-regulatory-framework">Persistent Concerns Surrounding the Crypto Regulatory Framework</h2>
<p>Beyond Joe Biden’s potential veto, the entire regulatory framework surrounding crypto continues to raise significant concerns. Many voices regularly speak out to denounce a lack of clarity and consistency on the part of the authorities.</p>
<p>On one hand, the SEC and other regulators advocate a strict approach to overseeing sector players. But at the same time, some lawmakers are trying to relax regulations to foster innovation. A real arm-wrestling match that continues to perpetuate an atmosphere of harmful uncertainty.</p>
<p>Worse still, these regulatory vacillations rekindle fears of a crypto regulation by knee-jerk reaction in the United States. A prospect that could greatly hinder the adoption of Bitcoin and its peers by a wide swath of institutional investors.&nbsp;&nbsp;&nbsp;</p>
<p>The path towards a calm crypto regulation remains fraught with obstacles in the United States. The veto contemplated by Biden is just the latest twist in a saga that drags on. However, all stakeholders agree on the need to establish a clear and lasting framework for crypto-assets. A significant challenge that will require considerable efforts of reconciliation among the various stakeholders, especially those in favor of Bitcoin.</p>

Biden Says NO to Bitcoin! No Room for Crypto in Banks!

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