{"id":30391,"date":"2024-05-09T07:57:04","date_gmt":"2024-05-09T07:57:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/biden-administration-signals-veto-on-crypto-policy-resolution\/"},"modified":"2024-05-09T07:57:04","modified_gmt":"2024-05-09T07:57:04","slug":"biden-administration-signals-veto-on-crypto-policy-resolution","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/biden-administration-signals-veto-on-crypto-policy-resolution\/","title":{"rendered":"Biden Administration Signals Veto on Crypto Policy Resolution"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>As per the White House announcement, the administration of President Joe Biden has informed the Securities and Exchange Commission (SEC) of its plan to reject a joint resolution on crypto policy should it make it to the president\u2019s desk.<\/p>\n<p>In an attempt to reverse the SEC\u2019s Staff Accounting Bulletin (SAB) No. 121, the White House has voiced significant opposition to the proposed joint resolution. Disrupting the SEC\u2019s attempts to protect investors in cryptocurrency asset markets and preserve the larger financial system is the goal of the resolution, which was presented in the House in February.<\/p>\n<h2>Congressional Review Act Impact<\/h2>\n<p>The Biden administration emphasized concerns that invoking the Congressional Review Act could restrict the SEC\u2019s ability to ensure appropriate regulations for crypto-assets, potentially leading to financial instability and market uncertainty.<\/p>\n<p>The proposal sparked a discussion between the Democratic and Republican heads of the House Financial Services Committee. Representative Maxine Waters opposed the resolution, arguing that SEC accounting requirements are crucial for openness in the digital asset market, while Representative <a href=\"https:\/\/igaming.org\/crypto\/congressman-patrick-mchenry-pushes-for-u-s-dominance-in-bitcoin-development\/\">Patrick Henry<\/a> supported it, stressing the necessity for institutions to safely manage Americans\u2019 digital assets.<\/p>\n<p>Rep. McHenry asked for a tally of the yes and no votes following the first signs that the resolution had passed the House. On the other hand, the resolution\u2019s processes were delayed until after further information was released. A two-thirds majority vote in the House would be needed to overturn President Biden\u2019s veto.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>5BTC or 111% + 111 Free Spins!<\/strong> <\/p>\n<p>New players only. Exclusive 111% Welcome Bonus + 111 Free Spins<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/biden-administration-signals-veto-on-crypto-policy-resolution\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) As per the White House announcement, the administration of President Joe Biden has informed the Securities and Exchange Commission (SEC) of its plan to reject a joint resolution on crypto policy should it make it to the president\u2019s desk. In an attempt to reverse the SEC\u2019s [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":30392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30391"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30391"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30392"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}