US House fails to meet threshold to override Biden’s veto of a resolution to overturn SAB 121 | Headlines | News | CoinMarketCap
07/11/2024 23:05
U.S. lawmakers voted 228-184 in a failed attempt to override President Joe Biden's veto of a legislative measure to overturn a controversial crypto …
U.S. lawmakers voted 228-184 in a failed attempt to override President Joe Biden's veto of a legislative measure to overturn a controversial crypto accounting bulletin.
A two-thirds majority from both houses of Congress was required to overturn the veto, meaning 67 out of 100 senators in the Senate and 290 lawmakers in the House. The House's vote on Thursday did not meet that two-thirds majority threshold. Twenty-one Democrats and 207 Republicans voted yes, while 183 Democrats and one Republican voted no.
Staff Accounting Bulletin No. 121, also dubbed SAB 121, has drawn controversy over the past year over concerns in the crypto industry that it could prevent banks from safeguarding digital assets. It requires firms that custody crypto to record customer …