PANews reported on May 24 that Cody Carbone, Chief Policy Officer of the cryptocurrency advocacy organization The Digital Chamber, stated on the X platform: "Update on the progress of SAB 121 (crypto accounting policy): We have received confirmation that the U.S. Congress only sent the resolution H.J Res 109 to repeal SAB 121 to Biden last night. This changes the 10-day deadline. The U.S. President now has until June 3 to decide whether to veto this resolution (10 days excluding Sundays)."

Previously, it was reported that the bill to overturn SAB 121 had passed votes in the House of Representatives and the Senate on May 8 and May 17, respectively. Biden will make the final decision on this bill by May 28.