The founder of blockchain platform Cardano has shared his thoughts on the Biden administration's regulatory approach toward the cryptocurrency industry, saying the statement released by the president's office regarding a highly controversial Securities and Exchange Commission (SEC) bulletin was "noise and garbage."
The administration's statement in question was released Wednesday, hours before House representatives voted in favor of a resolution that revokes the SEC's Staff Accounting Bulletin 121 (SAB 121) that requires crypto custodial firms to hold their clients' assets on their balance sheets.
