U.S President Joe Biden signed a veto of a House Joint Resolution that would have repealed the Securities and Exchange Commission's (SEC) Staff Accounting Bulletin 121.

In a rare lobbying overlap with crypto world, Wall Street banks and members of Congress are asking President Joe Biden to reverse course on his vow to veto the U.S. congressional resolution to overturn the U.S. Securities and Exchange Commission's (SEC) crypto accounting policy.

The "fee-switch" vote was supposed to take place today.

AUSTIN, Texas – Sen. Ron Wyden (D-Ore.), one of the U.S. Senate Democrats who've shown some support for crypto issues, cast doubt Friday that a legislative solution for the industry would move quickly, but he suggested to an audience at CoinDesk's Consensus 2024 that the momentum will continue next year in Washington.

The price action has been highly muted this week after plenty of volatility surrounding the previous week's surprising regulatory turnaround for the spot ether ETFs.