Pantera Capital analyst: Bidens veto of SAB 121 is a helpless move

Odaily News Pantera Capital analysts said that although US President Biden recently blocked a bill that was seen as supporting encryption (SAB 121), his veto was more likely due to his reluctance to publicly oppose the commissioner he appointed (US SEC Chairman Gary Gensler). Even if he vetoed the SAB 21 bill, Biden also affirmed his favorable stance on onshore encryption innovation, indicating a change in the tone of the current US government. (dlnews)