Biden vetoes congressional disapproval of SEC accounting bulletin on crypto assets

U.S. President Joe Biden looks on during a campaign event at Girard College in Philadelphia, Pennsylvania, U.S., May 29, 2024. REUTERS/Elizabeth Frantz

WASHINGTON (Reuters) - U.S. President Joe Biden on Friday vetoed a congressional disapproval of the U.S. Securities and Exchange Commission's accounting bulletin on crypto assets.

"By virtue of invoking the Congressional Review Act, this Republican-led resolution would inappropriately constrain the SEC's ability to set forth appropriate guardrails and address future issues," Biden said in a statement released by the White House.

(Reporting by Douglas Gillison; writing by Kanishka Singh; editing by Costas Pitas and Chris Reese)