President-elect Donald Trump plans to repeal a controversial accounting rule.
One of the key issues on the table is the repeal of SAB-121. The policy forces banks holding digital assets like Bitcoin to count them as liabilities.
If SAB-121 is repealed, it could significantly reduce the complexity and regulatory burden for banks wanting to hold digital assets. This move would open the door for all U.S. banks to own Bitcoin without the current regulatory headache. The changes could create a ripple effect, potentially unlocking new opportunities for financial institutions. This will also expand the reach of Bitcoin within the traditional banking system.
The push for change comes after the success of Bitcoin ETFs. They have already helped bring institutional investors into the crypto space. If the repeal of SAB-121 is enacted, it would take things a step further. This will allow Bitcoin to be seen as a more accessible and less risky asset for banks to hold. With fewer restrictions, banks could easily integrate Bitcoin into their operations. This will make it available for their customers while also boosting their portfolios.
President Trump recently expressed his vision for the future, emphasizing that his administration would focus on embracing emerging industries rather than attacking them. He specifically highlighted cryptocurrency and Bitcoin as key areas for growth, stating, “Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and bitcoin.”
This statement reflects his commitment to positioning the U.S. as a global leader in the crypto space, encouraging innovation, and fostering an environment where digital assets can thrive. Trump’s approach signals a shift towards supporting the crypto industry and promoting its potential in the American economy.
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If SAB-121 is repealed, then banks who want to hold $BTC can do so with substantially lower complexity and regulatory burden. Spot ETFs brought the institutions, and the repeal of SAB-121 would open bitcoin ownership to every single US bank. 2025 is already insane for bitcoin.
JUST IN: 🇺🇸 President-elect Trump expected to repeal crypto accounting policy requiring banks holding digital assets to count them as liabilities, WAPO reports.
President Trump says, “Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and bitcoin”
