EddieJayonCrypto

 14 Jan 25

tl;dr

President-elect Trump may issue an executive order allowing banks and financial institutions to hold Bitcoin (BTC) and crypto assets for their clients, potentially reversing a regulatory guideline requiring these assets to be counted as liabilities. The order is expected to address issues such as "d...

Potential executive order under President-elect Trump to allow banks to hold Bitcoin and crypto assets for clients, reversing regulatory guideline (The Washington Post)

President-elect Trump may issue an executive order allowing banks and financial institutions to hold Bitcoin (BTC) and crypto assets for their clients, potentially reversing a regulatory guideline requiring these assets to be counted as liabilities.

Executive orders expected on first day of presidency to address "de-banking" and repeal controversial crypto accounting policy (The Washington Post)

The order is expected to address issues such as "de-banking" and the repeal of the controversial crypto accounting policy.

Potential reversal of SEC guideline SAB 121 requiring banks to list custodial crypto assets as liabilities, seen as hindrance to financial institutions' entry into digital asset arena (The Washington Post)

The order would reverse Staff Accounting Bulletin (SAB) 121, an SEC guideline, allowing financial entities to list custodial crypto assets differently.

Bill to eliminate SAB 121 passed by House and Senate, vetoed by President Biden (The Washington Post)

A bill aiming to eliminate SAB 121 recently passed both the House and the Senate, but President Biden vetoed it.

These developments suggest that the incoming order could significantly impact how financial institutions handle and report cryptocurrency assets. Stay tuned for further updates on this evolving story.

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 17 Jan 25
 17 Jan 25
 17 Jan 25