House Set to Vote on Overturning Biden’s Veto of Crypto Regulation Rule Next Week

Next week, the U.S. House of Representatives might overturn President Joe Biden‘s veto of Staff Accounting Bulletin 121 (SAB 121), a rule requiring entities that report to the SEC and hold cryptocurrencies to list those assets on their balance sheets. This information comes from the House Majority Leader Steve Scalise’s weekly schedule, which includes SAB 121 on the “legislation that may be considered” list. The House must vote to either overturn or uphold presidential vetoes due to constitutional obligations, with the next votes possibly occurring on Tuesday, July 9, or Wednesday, July 10. Earlier, a resolution to nullify the SEC’s