Biden Vetoes Repeal of Controversial Crypto Guidelines, Sparking Criticism from Senator Lummis

United States President Joe Biden has missed the chance to “correct” his stance on cryptocurrency assets by vetoing the repeal of controversial cryptocurrency accounting guidelines, claims pro-crypto U.S. Senator Cynthia Lummis. “Congress gave the administration the opportunity to correct its position on crypto assets,” Lummis stated on May 31 on X, after Biden vetoed a Congressional resolution aimed at overturning the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121. Lummis argued that Biden acted against the “will of the American people” by preventing the repeal of these guidelines. She emphasized her determination to continue addressing the