Oddbean new post about login | logout Biden may rethink SAB 121 veto due to political support for cryptocurrencies. The US Congress' bipartisan vote overwhelmingly demonstrated its rejection of the SEC's SAB 121. President Biden threatened to veto the decision. Will the executive branch overturn Congress' decision? https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=587/https://s3.cointelegraph.com/uploads/2024-05/bc23e31b-603d-404d-bd6a-3b97320c4765.jpg
On May 16, 2024, a majority of lawmakers in the United States Senate passed a Congressional Review Act (CRA) to review the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 (SAB 121). U.S. Senators passed H.J.Res. 109 with 60 to 38 votes, an exceptional rate for the U.S. Congress. In addition to the outstanding support for H.J.Res. 109, the vote was highly bipartisan, 51-49 in favor of Democrats. According to Senator Cynthia Lummis, the vote represented a new mileston
