Summary
- President-elect Trump is expected to repeal the cryptocurrency accounting policy SAB 121.
- The repeal of this regulation is expected to allow traditional financial institutions to hold cryptocurrencies.
- The institutionalization of the market is expected to accelerate.
President-elect Donald Trump is expected to repeal accounting policies related to cryptocurrency.
On the 14th (local time), Watcher Guru, citing a report from the Washington Post, stated, "Trump is expected to repeal the cryptocurrency accounting policy (SAB 121) that requires banks holding cryptocurrencies to consider them as liabilities."
If this regulation is repealed, it is anticipated that traditional financial institutions will be allowed to hold cryptocurrencies, accelerating the institutionalization of the market. Meanwhile, Trump is expected to issue an executive order related to cryptocurrency on his first day in office.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin drops intraday to the $72,000 level… debate over 'safe-haven credibility' reignited](https://media.bloomingbit.io/PROD/news/e3aeb7f7-851b-4479-bfd0-77d83a3b7583.webp?w=250)
