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The regulatory saga surrounding crypto takes an unexpected new turn. According to a recent statement, U.S. President Joe Biden is considering vetoing legislation aimed at easing regulations governing the holding of Bitcoin and other cryptocurrencies by financial institutions.
Biden’s Veto, a Setback for Bitcoin
This turn of events comes as a cold shower for the crypto sector. Indeed, many stakeholders were placing their hopes in this future law to promote greater adoption of Bitcoin within the traditional financial system.
Yet, the White House seems to hold its ground. According to the statement, President Biden is firmly opposed to the bill if presented to him as is. A potential veto that could significantly complicate efforts to integrate Bitcoin and other cryptocurrencies into established financial practices.
For the Biden administration, this possible rejection aims to preserve the…
