2️⃣ Despite Biden

Deputies of the two parties came together.

Knowing that Biden is anti-crypto, this bill passed the Senate with a vote of 60-38, with the votes of powerful figures from Biden's own party (such as Booker and Schumer). 10 senators and 21 deputies from Biden's party (House vote 228-182) voted for this bill.

The most critical part is that Biden said he would veto it before there was a vote. So a challenge!

This vote came to the fore in the USA last week. Because it was something completely unexpected. However, banks, seeing the historical success of ETFs, passed this law with strong lobbying efforts.

In February, the following organizations announced their opposition to SAB121:

-Bank Policy Institute

-American Bankers Association

-Securities Industry and Financial Markets Association

-Financial Services Forum

Well?

✅ ETFs increased appetite

Demand for ETFs seems to have increased the appetite of Wall Street companies.

Considering that not only crypto companies (such as Coinbase Gemini) but also large banks will be involved in this game, we can say that crypto will become more widespread in the coming period.

Even if Biden vetoes it, he is now backed into a corner. He may now try to appear friendly to the crypto industry to increase his chances of winning the November election. That's why the SEC is likely to backtrack on its ETF decision, so it's not investment advice!$BTC $ETH $BNB