Biden Administration says it will veto legislation to allow banks to actually custody crypto - it would “disrupt the SEC’s work to protect investors”

This will cost them votes.

If they’re doing this before Nov I’m scared for what comes after Nov.

Seems they no longer care.

I saw something along the lines of how the rule is more about ensuring that if banks lose the keys to your crypto, or get hacked, they would be liable for damages.

This proposed legislation would remove that liability for banks so if they fuck up, it's on you, which doesn't seem great.