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Home»ALTCOIN NEWS»President Trump abolishes SAB 121 to allow banks to keep Bitcoin and cryptocurrency assets.
ALTCOIN NEWS

President Trump abolishes SAB 121 to allow banks to keep Bitcoin and cryptocurrency assets.

By Crypto FlexsJanuary 24, 20252 Mins Read
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President Trump abolishes SAB 121 to allow banks to keep Bitcoin and cryptocurrency assets.
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President Trump officially officially deleted the controversial guidelines of the US Securities and Exchange Commission, which effectively prevent US banks from holding cryptocurrency assets.

The new administration abolished the employee accounting announcement 121, which allows the bank to identify the cryptocurrency assets held on behalf of the customer as a debt of the balance sheet.

The bill to eliminate the guidelines passed both the House of Representatives and the Senate last year, but President Biden vetoed.

This problem is a top priority among cryptocurrency supporters, but the removal of the rules was not a campaign promise.

Bank of America CEO Brian Moynihan recently said that US banks are ready to enter the opportunity to keep cryptocurrency assets.

“If the rules are applied and make it actually business, the banking system will have difficulty in trading.”

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Exemptions: The opinions expressed in The Daily HODL are not investment advice. Investors must do live action before making high -risk investments in bitcoin, cryptocurrency or digital assets. Please note that the risks of your transfer and transactions are entirely your responsibility, and that all possible losses are your responsibility. Daily HODL is not recommended to purchase or sell cryptocurrencies or digital assets, and The Daily HODL is not an investment advice. The Daily HODL is participating in affiliate marketing.

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