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News / White House Declares It Won’t Veto Crypto Bill Despite Concerns

White House Declares It Won’t Veto Crypto Bill Despite Concerns

With the FIT21 crypto bill, President Biden’s administration demonstrates institutional interest and hesitation at the same time.

05 min read

The House of Representatives passed a bill on Wednesday, May 22, that would place most oversight over cryptocurrency to the highly friendlier agency—potentially putting President Joe Biden in the confusing position of defying his SEC chairman to strike a veto.

Biden’s administration declared it would not use the veto power about the crypto market structure bill under consideration at the U. S. House of Representatives, source press release.

The House passed the “Financial Innovation and Technology for the 21st Century Act”