US House vs. SEC Crypto Rule, Biden Threatens Veto

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

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

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

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

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