According to Foresight News, US Senator Cynthia Lummis, a supporter of the cryptocurrency industry, has criticized President Joe Biden's decision to veto the repeal of the controversial cryptocurrency accounting standards. Lummis stated that Biden missed an opportunity to 'correct' his stance on cryptocurrency assets. She vowed not to stand by idly and will continue to promote financial innovation.
Earlier today, Biden vetoed a resolution aimed at overturning the Securities and Exchange Commission (SEC) cryptocurrency asset accounting standard SAB 121. The decision has sparked controversy and criticism from various quarters, especially those supporting the growth and development of the cryptocurrency industry. Senator Lummis, known for her pro-cryptocurrency stance, expressed her disappointment and pledged to continue her efforts to foster financial innovation.
