ChainCatcher news, President Joe Biden has officially vetoed the SAB121 bill. In the veto message released on Friday evening, Biden stated that his administration will not support measures that jeopardize the welfare of consumers and investors. Proper safeguards to protect consumers and investors are essential to harnessing the potential benefits and opportunities of cryptocurrency innovation. Biden added in the statement that he looks forward to working with Congress to ensure the establishment of a comprehensive and balanced regulatory framework for digital assets.