Bitcoin And XRP In Focus Ahead Of Big US Crypto-Political Events, Here’s Why

Market Braces for Significant Crypto-Political Events

As influential crypto-political events unfold in the United States, the crypto market is closely monitoring Bitcoin and XRP. These proceedings may shape future crypto regulations and influence market dynamics.

Key Events and Discussions

Fox Journalist Eleanor Terrett highlighted today as a pivotal day for crypto in Washington, D.C. The U.S. Senate Committee on Agriculture, Nutrition, and Forestry will hold an oversight hearing on digital commodities with CFTC Chair Rostin Behnam at 10 am ET. Simultaneously, U.S. Representative Ro Khanna will lead a crypto roundtable with notable figures such as Mark Cuban and industry leaders. These discussions will delve into pressing issues and impact future regulatory frameworks.

Focus on Bitcoin and XRP

Amid these events, market attention is centered on the performance of Bitcoin and XRP.

House Vote on SAB 121

In a separate post, Terrett noted that the House is scheduled to vote on SAB 121 at 4 PM. However, it is unlikely that members will obtain the two-thirds majority required to override President Biden's veto. Recent developments indicate that Biden's veto will likely prevail, affirming the SEC's authority and preserving the SAB 121 accounting rule.