"My Administration will not support measures that jeopardize the well-being of consumers and investors," said President Biden in a letter addressed to the U.S. House of Representatives posted on the White House website. "Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation."
Biden has vetoed measures before that passed the Senate and House with bipartisan votes. For example, the president vetoed a measure in May to overturn a joint employer rule that had passed the Senate and House by bipartisan margins, according to Bloomberg Law.
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