U.S. House could vote to override Biden's veto of SAB 121 this Tuesday or Wednesday

Fox Business reporter Eleanor Terrett said on social media platforms, "The U.S. House of Representatives could vote to override Biden's veto of SAB 121 on Tuesday or Wednesday, which would require a two-thirds majority. While a two-thirds majority to override SAB 121 is a big ask (requiring about 60 more 'yes' votes than last time), members of Congress who plan to vote 'no' should remember that SAB 121 is a major contributor to the limited number of organizations that offer digital asset custodial services to a limited number of organizations, a risk that VanEck outlined in its Spot ETH S-1 filing.

VanEck states that there are risks associated with Coinbase's role as custodian for all spot ETF products (and most BTC products): ''Coinbase provides ETH custodian services for multiple competing ethereum exchange-traded products, which could adversely affect the operations of the trusts and, ultimately, the value of the shares. ' If, as a result of SAB 121, banks and other 'institutionally capable providers' are dissuaded from providing custodial services, does this mean that Biden and the members of Congress who voted to retain the bill directly contributed to this market risk?"