Biden

Joe Biden

Coin

<ul class="news-points"> 
 <li>Joe Biden has vetoed the Congressional decision on SAB 121.</li> 
 <li>According to Biden, SAB 121 would constrain the SEC from addressing future issues.</li> 
 <li>SAB 121 passed both chambers of Congress with an easy majority.</li> 
</ul> 
U.S. President Joe Biden <a href="http://www.bloomberg.com/news/articles/2024-06-01/biden-vetos-congressional-bid-to-void-sec-crypto-guidance" target="_blank" rel="nofollow">vetoed a joint resolution</a> by Congress that would have repealed the SECs Staff Accounting Bulletin 121 (SAB 121). Announcing his veto on Friday, Biden said he would not support any “measures that jeopardize the well-being of consumers and investors.” 
In his statement, Biden described SAB 121 as a Republican-led resolution that would undermine the SEC’s ability to set necessary guardrails and address future issues. He noted that reversing the SEC staff’s considered judgment risks weakening the SEC’s broader authority regarding accounting practices. 
Biden previously expressed his intention to work with Congress on legislation addressing the digital asset market. He stated that “appropriate guardrails that protect consumers and investors are necessary.” 
Meanwhile, some banking groups and certain Congress members sent letters to the President urging him to sign the resolution to overturn SAB 121 a few hours before he vetoed …
The post <a href="https://coinedition.com/sab-121-biden-intervenes-vetoes-congressional-sec-guidance-resolution/">SAB 121: Biden Intervenes, Vetoes Congressional SEC Guidance Resolution</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

SAB 121: Biden Intervenes, Vetoes Congressional SEC Guidance Resolution

Coin Edition

Other articles published on Jun 1, 2024

Dogecoin Whales Accumulate Vast Amounts

Core and KangaMoon Holders Ready Those Moonbags As Older Coin Cardano Struggles

MoonBag Coin Presale Takes Flight, Enters Stage 4 at $0.00015, Topples Dogeverse and Internet Com...

MoonBag Meme Coins Fires Past Dogeverse and Hedera with 15,000% ROI Projection, Enters Stage 4 at...

Weekly Crypto Report: Hacks, Market Trends, and the Latest in Blockchain and Web3

Memeinator price prediction, can MMTR beat Dogecoin (DOGE)?

Join our free newsletter for daily crypto updates!