🚨 Deadline Approaches: Biden's Crypto Rule Showdown!
🏛 Congress vs. SEC: The U.S. Securities and Exchange Commission's contentious SAB 121 is under fire, with both the House and Senate passing a resolution to overturn it. Now, it's up to President Biden to make a move.
⌛️ Time's Ticking: The clock is ticking, and Biden has until June 3 to make his decision. Will he veto the resolution, sign it into law, or simply let the deadline pass?
📜 Veto Power Plays: A veto from Biden would be a game-changer, as it would likely put an end to Congress' efforts. But overriding a veto requires a two-thirds majority – not an easy feat.
🖋 Signing for Change: Alternatively, Biden could sign the resolution, effectively nullifying SAB 121 and preventing future similar rules from the SEC.
🤔 The Waiting Game: If Biden chooses neither veto nor signature, the bill could still become law through inaction – unless Congress isn't in session, then we're talking about a pocket veto.
🏦 FIT21 on the Horizon: In the midst of this crypto rule drama, the House also passed FIT21 Act, aiming to establish a regulatory framework for digital assets. The White House seems more open to collaboration here.
As we await Biden's decision, the crypto world holds its breath – will it be a win for innovation or a setback for regulation? Stay tuned!
🏛 Congress vs. SEC: The U.S. Securities and Exchange Commission's contentious SAB 121 is under fire, with both the House and Senate passing a resolution to overturn it. Now, it's up to President Biden to make a move.
⌛️ Time's Ticking: The clock is ticking, and Biden has until June 3 to make his decision. Will he veto the resolution, sign it into law, or simply let the deadline pass?
📜 Veto Power Plays: A veto from Biden would be a game-changer, as it would likely put an end to Congress' efforts. But overriding a veto requires a two-thirds majority – not an easy feat.
🖋 Signing for Change: Alternatively, Biden could sign the resolution, effectively nullifying SAB 121 and preventing future similar rules from the SEC.
🤔 The Waiting Game: If Biden chooses neither veto nor signature, the bill could still become law through inaction – unless Congress isn't in session, then we're talking about a pocket veto.
🏦 FIT21 on the Horizon: In the midst of this crypto rule drama, the House also passed FIT21 Act, aiming to establish a regulatory framework for digital assets. The White House seems more open to collaboration here.
As we await Biden's decision, the crypto world holds its breath – will it be a win for innovation or a setback for regulation? Stay tuned!