Senator Cynthia Lummis and Representative Patrick McHenry have urged President Biden not to veto the bill repealing SEC Notice SAB 121. On Thursday, Senators Cynthia Lummis and Rep. Patrick McHenry joined other lawmakers in writing a letter to President Biden calling on him not to veto a legislative measure to overturn SEC staff accounting bulletin SAB 121, which requires companies hosting cryptocurrencies to record customers' cryptocurrency holdings as assets.