US House vs. SEC Crypto Rule, Biden Threatens Veto

US House votes to overturn SEC's 2022 bulletin on crypto custodian accounting.

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Bipartisan support in House highlights dissatisfaction with SEC's crypto regulation.

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SEC's accounting standards criticized as hindering crypto industry innovation.

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Senate and presidential response uncertain, with Biden signaling possible veto.

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Resolution's passage could impact financial institutions and market stability, prompting White House opposition.

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