In the United States, the House of Representatives has passed a bipartisan bill that nullifies the Securities and Exchange Commission’s Special Accounting Bulletin 121 (SAB 121), which requires banks to report their customers’ crypto assets on their balance sheets, unlike traditional assets such as securities. It’s uncertain whether the measure will even become law, as President Joe Biden has announced his intention to veto it. Interestingly, the two next US presidential candidates have differing views on cryptocurrencies, with Biden indicating support for the SEC’s regulatory enforcement, while Trump stated he would cease the hostile stance towards cryptocurrencies.