<ul><li>The Biden Administration intends to veto a Republican bill that would allow US banks to provide crypto custody services.</li><li>House Resolution 109, which aimed to invalidate accounting guidance for banks offering crypto custody, passed through the House but did not receive a two-thirds majority.</li><li>The White House stated that the guidance, Staff Accounting Bulletin 121, is important for protecting investors and the financial system.</li><li>Critics argue that the guidance is prohibitive for banks and hinders the launch of crypto custody services.</li></ul>

Biden Admin To Kill Republican Bill Letting U.S. Banks Custody Crypto

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