House fails to override Biden's veto on nullifying SEC crypto rule - 0 views
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John Kiff about 13 hours agoThe U.S. House of Representatives could not gather enough support to override President Joe Biden's veto of a resolution affecting a Securities and Exchange Commission (SEC) rule on banks recording cryptocurrency held in custody for customers as a liability on their balance sheets. In a July 11 vote, 228 House members voted to override President Biden's veto of H.J.Res. 109, overturning SEC Staff Accounting Bulletin (SAB) No. 121 - 60 votes short of the two-thirds majority required. However, Rep. Maxine Waters (D-Calif.) said the SEC has been negotiating with banking industry representatives about "targeted modifications" to the policy and "may be close to reaching an agreement."