The House Financial Services Committee, led by Chairman Patrick McHenry and Senator Cynthia Lummis, has requested President Joe Biden to reconsider his potential veto of the Congressional Review Act resolution, which seeks to overturn SEC's Staff Accounting Bulletin 121 (SAB 121). The bulletin restricts highly regulated financial institutions from holding Bitcoin and other tokens. This bipartisan initiative passed both Senate and House votes and is seen as a critical measure to safeguard essential crypto custody services and consumers.