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20 USDT
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Trump's first-day executive order aims to repeal Biden's Crypto Assets policy, including SAB 121. Understand how this shift may redefine cryptocurrency regulation in the United States.
According to reports, the Trump administration plans to issue an executive order on its first day in office to abolish Cryptocurrency regulation from the Biden era, indicating a shift in US encryption policy.
Focus on encryption regulations has attracted attention
According to The Washington Post, the government's top priority is to abolish the controversial Staff Accounting Bulletin (SAB) 121 of the Securities and Exchange Commission (SEC). This policy requires banks to classify digital assets as liabilities, which cryptocurrency advocates believe hampers innovation and hinders wider adoption.
The Washington Post cited reports that Trump's executive order may also address concerns about 'debanking', which is said to have led the Biden administration to prevent Cryptocurrency businesses from accessing financial services.