Biden Vetoes Bill Seeking to Overturn SEC Guidance on Crypto Reporting

June 05, 2024 at 09:05 AM EDT

President Joe Biden has vetoed a measure aimed at overturning a contentious directive from the U.S. Securities and Exchange Commission (SEC) regarding the accounting practices for companies handling cryptocurrency assets.

In a letter addressed to the House of Reps and published on the White House website, President Biden stressed his administration’s commitment to protecting investors and consumers, stating that appropriate safeguards are essential to leveraging the opportunities and benefits of…

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