Bipartisan Bill Advances Crypto Custody, Defying SEC and Biden

In a win for the crypto industry, the U.S. House of Representatives passed a bill that overturned controversial SEC guidance preventing banks from offering crypto custody services. This bipartisan move removes a hurdle for regulated institutions to act as custodians for digital assets, potentially increasing consumer protection and crypto adoption. While President Biden signaled a veto, the House vote highlights a growing movement to integrate crypto into the traditional financial system.