The U.S. House of Representatives may vote to override Biden's veto of SAB 121 this Tuesday or Wednesday

ChainCatcher news, Fox Business reporter Eleanor Terrett stated on social media: "The U.S. House of Representatives may vote on Tuesday or Wednesday to override Biden's veto of SAB 121, which requires a two-thirds majority. While achieving a two-thirds majority to override SAB 121 is a significant ask (about 60 more 'yes' votes than last time), members of Congress planning to vote 'no' should remember that SAB 121 is a key reason for the limited number of institutions providing digital asset custody services, a risk outlined by VanEck in its spot ETH S-1 filing.

VanEck stated that Coinbase, as the custodian for all spot ETF products (and most BTC products), poses a risk: ''Coinbase provides ETH custody services for multiple competing Ethereum exchange-traded products, which could adversely affect the operation of the trust and the ultimate value of the shares.' If banks and other 'institutionally capable providers' are discouraged from offering custody services due to SAB 121, does this mean that Biden and the members of Congress voting to retain the bill are directly contributing to this market risk?"