BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Biden Administration is Changing its Tone on Crypto Regulation

by Sham
May 22, 2024
in Crypto, Politics
A A
Biden Administration is Changing its Tone on Crypto Regulation
1
SHARES
Share on TwitterShare on Reddit
  • US President Joe Biden has announced that he will not veto the FIT21 crypto bill if it is passed by Congress.
  • The White House has expressed some opposition to the FIT21 bill, citing concerns about investor protection.
  • The Biden administration has called for Congressional collaboration on establishing a comprehensive and balanced regulatory framework for digital assets.

US President Joe Biden has announced that he will not veto the FIT21 crypto bill if it is passed. Moreover, the Biden administration released a statement calling for Congressional collaboration on a comprehensive and balanced regulatory framework for digital assets.

JUST IN: 🇺🇸 Biden administration is changing its tone on crypto regulation, and is now looking to offer a “balanced framework”

— BlockNews.com (@blocknewsdotcom) May 22, 2024

Biden Opts to Not Veto FIT21 Bill in Notable Shift

With the 2024 presidential election fast approaching, digital assets have become an important topic. Indeed, both sides of the political aisle have clearly expressed their stance on the matter. However, that has now seen some interesting shifts take place.

US President Joe Biden has stated that he will not veto the impending FIT21 crypto bill in what is certainly a shift in perspective from the commander in chief. In a statement, Biden expressed his desire to work alongside Congress to establish regulation for the asset class in the modern economy.

“The Administration is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on editing authorities,” the statement noted. Furthermore, it states that such action would prompt the responsible development of digital assets and payment innovation in the country.

However, Biden did also express his opposition to the FIT21 bill. Specifically, the White House noted trepidations regarding investor protection. Still, the approach is certainly a necessary alteration with the industry long calling for Congressional interference amid the US Securities and Exchange Commission’s (SEC) regulation by enforcement approach.

Congressional Regulation Welcomed by Industry

The White House has also published an administrative statement addressing HJ Res 109. Specifically, that legislation would abolish SEC guidance and has received resounding support as it passed through both the House and Senate. However, the Biden Administration has already threatened a veto aligning with the agency and its controversial chair Gary Gensler.

Tags: Biden administrationCrypto Regulationdigital assetsFIT21 crypto billJoe Biden
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute
Crypto

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

May 28, 2025
GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?
Bitcoin

GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

May 28, 2025
Bitcoin Is Coming to Cardano—And It Could Change Everything
Bitcoin

Bitcoin Is Coming to Cardano—And It Could Change Everything

May 28, 2025
JD Vance Declares White House Support for Crypto Industry: What You Need to Know
Crypto

JD Vance Declares White House Support for Crypto Industry: What You Need to Know

May 28, 2025
Elon Musk Explains Why He is Disappointed in Trump’s Big Beautiful Tax Bill
Finance

Elon Musk Explains Why He is Disappointed in Trump’s Big Beautiful Tax Bill

May 28, 2025
Lace Wallet Showcases Bitcoin on Cardano DeFi: This Changes Everything and Here is Why
Bitcoin

Lace Wallet Showcases Bitcoin on Cardano DeFi: This Changes Everything and Here is Why

May 28, 2025
Load More

Related News

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

Circle Freezes $57 Million in USDC Tied to LIBRA Team Amid Legal Dispute

May 28, 2025
GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

GameStop Makes First Move into Bitcoin with Massive $513M Investment: What’s Next?

May 28, 2025
Bitcoin Is Coming to Cardano—And It Could Change Everything

Bitcoin Is Coming to Cardano—And It Could Change Everything

May 28, 2025
JD Vance Declares White House Support for Crypto Industry: What You Need to Know

JD Vance Declares White House Support for Crypto Industry: What You Need to Know

May 28, 2025
Elon Musk Explains Why He is Disappointed in Trump’s Big Beautiful Tax Bill

Elon Musk Explains Why He is Disappointed in Trump’s Big Beautiful Tax Bill

May 28, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.