Founder of Skybridge Capital: Biden's veto of SAB 121 is a very wrong decision

Anthony Scaramucci, founder and managing partner of Skybridge Capital, wrote on the X platform that Biden's stance on cryptocurrency may cost him more. Vetoing the SAB 121 bill is a very wrong decision, especially at this critical moment. Earlier news, US President Joe Biden vetoed a resolution that proposed to overturn the US SEC's controversial crypto asset accounting standard SAB 121. He said in an official statement on May 31: "Overturning the SEC staff's well-thought-out judgment in this way may undermine the SEC's broader authority in accounting practices." Biden said: "My government will not support measures that endanger the well-being of consumers and investors."