Biden has promised to veto a House bill to be voted on Wednesday that seeks to repeal the SEC's encryption policy. This policy is believed to have prevented banks from dealing with crypto customers. Sponsors of the bill claim that the SEC has had problems dealing with this policy. While some Republican lawmakers support the move, Democrats believe the resolution is too radical. The White House has expressed support for the SEC's policy, saying that repeal would bring financial instability and market uncertainty. If the resolution passes, similar SEC policies will be permanently blocked.