Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

The Tug-of-War Over American Crypto Custodianship Takes a Dramatic Turn Just when you thought the saga of cryptocurrencies and their place in the American financial landscape couldn't get any more gripping, we're right back into the thick of it In a recent, jaw-dropping development, a major legislative effort is making waves through Capitol Hill, aiming to fundamentally alter how U S banks interact with digital assets After President Joe Biden exercised his veto power against a groundbreaking bill that could allow American banks to hold cryptocurrencies, the crypto community, banking industry, and political observers are all holding their breaths for what comes next...

A Turning Point for Crypto Regulation: The House Prepares to Vote Next week marks a potential turning point for cryptocurrency regulation in the United States At the heart of the matter is the contentious Staff Accounting Bulletin 121 (SAB 121), which is designed to enforce SEC-reporting entities to include cryptocurrencies on their balance sheets This rule has sparked widespread discussion and debate, reaching as far as the White House, where President Joe Biden recently exercised his veto power against the bipartisan effort to overturn it The House's Response to a Presidential Veto In an act fulfilling their constitutional duty, the House of Representatives is gearing up to cast a critical vote that could potentially override President Biden’s veto This decisive moment has been scheduled for early next week, with potential voting sessions on Tuesday or Wednesday...