Financial Industry's Concerns Over Biden's Potential Veto of Congress' SEC Crypto Policy Rejection
Friday, 31 May 2024, 21:26
Banking Groups Urge Reconsideration
The U.S. banking lobby and Congress members have jointly appealed to President Biden to reconsider his stance on the potential veto of the rejection of SEC's crypto policy, known as SAB 121.
Heightened Concerns in the Financial Industry
The financial sector is expressing deep concerns over the implications of a veto and the possible disruptions in the crypto market that may arise as a result.
- Lobbying groups seek a change in Biden's position to avoid regulatory uncertainty.
- Members of Congress support the rejection of SAB 121.
A decision on the veto could have far-reaching consequences on the regulatory landscape and market dynamics.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.