Avast ye scurvy dogs! Biden be swashbucklin' and vetoing Congress's crypto treasure chest bill. Aye, the plunder be denied!
2024-06-02
Avast ye scallywags! President Biden hath vetoed a law that be messin' with the SEC's rules for keepin' hold of crypto loot. Traditional financial buccaneers be findin' it hard to offer services with this here policy in place. The Congress passed it, but the White House be sayin' nay. Arrr!
Arrr, me hearties! Listen up, for I have some news from the high seas of Washington. President Biden has used his mighty veto power to block a bill that aimed to scrap the special rules the Securities and Exchange Commission had in place for custodians of crypto assets. Aye, 'twas a bold move indeed!This decision be important because it could be a major roadblock for traditional financial companies looking to offer services that involve holding onto their customers' precious cryptocurrency. Ye can imagine the uproar in the taverns!
Let me bring ye up to speed, me mateys. The bill made its way through both chambers of the U.S. Congress and was given the final nod by the Senate on May 16. But the White House had already hinted at its intentions to veto, so 'twas no surprise when the news came out.
So there ye have it, me hearties. The battle between the crypto pirates and the SEC rages on, with President Biden standing firm in his decision. Who will emerge victorious in this epic struggle? Only time will tell, so batten down the hatches and hold onto yer doubloons!