ChainCatcher news, according to DL News, Pantera Capital analysts stated that Biden's move to appease the crypto industry is sincere. Although he recently blocked a bill (SAB 121) that was seen as supportive of crypto, his veto is more likely due to his unwillingness to publicly oppose the commissioner he appointed (SEC Chairman Gary Gensler). Even with the veto of the SAB 21 bill, Biden has affirmed a favorable stance towards onshore crypto innovation, indicating a shift in the current administration's tone.It is noteworthy that Biden did not veto a more significant bill—the FIT21 bill supporting cryptocurrencies, which passed in the House in mid-May and will continue to evolve as it is reviewed by the Senate.

ChainCatcher news, Skybridge Capital founder and managing partner Anthony Scaramucci stated on the X platform that President Biden's stance on cryptocurrency issues could cost him dearly. Vetoing the SAB 121 bill is a very wrong decision, especially at this critical moment.

ChainCatcher News, the House Financial Services Committee Republicans stated on social media that President Biden vetoed the SAB 121 bill, which is very disappointing. This move disregards multiple bipartisan votes, sending a clear message to the government that its stance on digital asset policy is wrong. Congress will continue to strive for clarity in digital asset regulation.

ChainCatcher news, according to The Block, U.S. Senator Cynthia Lummis and Representative Patrick McHenry wrote a letter urging Biden not to veto the "repeal" of the cryptocurrency accounting policy (SAB 121) bill, stating that the voting results from both parties in the House and Senate provide a reason not to veto.ChainCatcher previously reported that Cody Carbone, Chief Policy Officer of the cryptocurrency advocacy organization The Digital Chamber, stated on social media: "We received confirmation that the U.S. Congress only sent the resolution to repeal SAB 121, H.J Res 109, to Biden last night. This changes the 10-day deadline. The U.S. President currently has a time window until June 3 to decide whether to exercise veto power over this resolution (10 days total, excluding Sunday)."