Scaramucci Warns Biden's Veto Of Crypto Custody Bill Will 'Cost Him More Than He Realizes': 'Out Of Step With The Future'
Portfolio Pulse from Shanthi Rexaline
Anthony Scaramucci criticized President Biden's veto of the crypto custody bill, warning it could have significant repercussions. The bill, H.J.Res. 109, aimed to overturn the SEC's approach to banks and crypto, which currently classifies customers' crypto assets as liabilities. Scaramucci also criticized Sen. Elizabeth Warren and supported Republican Senate candidate John Deaton. Biden expressed willingness to work on a comprehensive regulatory framework for digital assets.
June 02, 2024 | 6:49 pm
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NEUTRAL IMPACT
Bitcoin's price could be influenced by the political and regulatory uncertainty following President Biden's veto of the crypto custody bill. Anthony Scaramucci's criticism and the ongoing debate may create short-term volatility.
The veto of the crypto custody bill and the ensuing political debate could create uncertainty in the crypto market, potentially affecting Bitcoin's price. However, the long-term impact remains uncertain as Biden is open to a comprehensive regulatory framework.
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