• Daily Dispatch
  • Posts
  • Biden crypto veto backs status quo after Trump verdict

Biden crypto veto backs status quo after Trump verdict

The White House follows through on its defense of the SEC, rejecting a bipartisan pro-crypto resolution.

Author

Ryan Ozawa
June 01, 2024

IN PARTNERSHIP WITH

/

📝 What you need to know

The day after former president Donald Trump was convicted in a New York courtroom, the person whose job he aims to retake vetoed a bipartisan bill that aimed to clip the wings of the SEC. Even as both candidates adjust their campaigns to court the digital assets industry, Pres. Joe Biden firmly sided with regulators.

A more robust attempt at carving out space for the crypto industry, the FIT21 Act, passed the U.S. House last week. Biden opposes that legislation as well, but didn’t vow to veto it. It would have to be taken up and passed by the Senate to make it to his desk, however.

This Week in Coins: Caitlyn Jenner Dives Into the World of Memes As Bitcoin and Ethereum Lay Flat

Bitcoin and Ethereum didn't see much action this week. But plenty happened in the crypto world of regulation, altcoins, and memes.

President Biden Vetoes Pro-Crypto Resolution, Defends SEC's Judgement

The White House said the bipartisan-passed bill would “jeopardize the well-being of consumers and investors.”

Vitalik Buterin Explains Why ‘Big Blockers’ Lost the Bitcoin Scaling Wars

Ethereum’s creator says the best way to prevent future disputes will require new technologies like ZK-SNARKs.

Franklin Templeton Reveals Ethereum ETF Fee

The global asset manager will charge investors 0.19%, in line with the low fees in the competitive spot Bitcoin ETF race.

📅 Join our Webinar!

Excited to announce our upcoming webinar "Unleashing the Power of Permissionless Markets with Vega Protocol" on June 5! Explore the future of decentralized derivatives with Vega Protocol

💬 Quote of the Day

❝

“Appropriate guardrails that protect consumers and investors are necessary to harness the potential benefits and opportunities of crypto-asset innovation.”

—U.S. President Joe Biden

🌐 From Our Hubs

🎮 GG: ‘Bitcoin Game Boy’ Gets a Runes Makeover—Here’s How to Win One

The BitBoy One is a Bitcoin-centric gaming handheld, and this new Runes edition gives it a sleek overhaul in a limited-edition model.

🎭 SCENE: AI ‘Opens Up the Field’ for Filmmakers: AIFA Awards Founders

The awards at NFC Lisbon accompanied the launch of the AI Film Academy, aimed at “democratizing the film industry.”

🤖 EMERGE: OpenAI Board Defends CEO Sam Altman Amid ‘Toxic Culture’ Claims

Former OpenAI board members claimed there was “psychological abuse,” but their replacements say Altman was “consistently collegial.”

📚 Dive Deeper

🎓 LEARN: What Is Notcoin? The Telegram-Based Game, NOT Token, and Future Plans

UPDATED: NOT is live and it's 2024's biggest gaming token launch so far. But Notcoin isn't over: Here's what to expect in the game's future.

📹 WATCH: Buying Crypto Simplified with Mika

In the first part of our series turning crypto beginners into crypto pros, Rug Radio creator Mika guides you through the process of purchasing cryptocurrency using crypto exchange Kraken.

Sponsored by Kraken

From Our Partner

Empower yourself: Swap, stake, and manage your crypto with the world's leading self-custodial wallet. Buy Bitcoin easily. Auto-stake for boosted rewards and save on fees! Instantly swap between thousands of trading pairs wherever and whenever—with no account required.