The American Bankers Association (ABA) has urged President Joe Biden to reconsider his decision to veto the repeal of the Staff Accounting Bulletin (SAB) 121, which affects how banks handle digital assets. The ABA argues that restricting banks from offering digital asset services could harm investors and the financial system by limiting regulated options. Despite support from Congress, Biden used his veto power, raising concerns within the crypto industry about future regulatory clarity.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.