💻News:
Trump will repeal a controversial regulation around cryptocurrencies as soon as he takes office as president.😎
👉According to a source with knowledge of the case, one of the measures that Trump will implement on his first day has to do with SAB 121, a provision implemented by the SEC that requires crypto custodians to report their clients' assets as liabilities.👈
The SAB 121 bulletin implements regulations for companies in the crypto sector.👊
The regulation requires companies to report client assets as liabilities on their balance sheets.
This would be repealed at the recommendation of the crypto advisory team that Trump has been putting together, with David Sacks at the head.💪
As the Washington Post indicated, Trump would repeal the controversial cryptocurrency accounting guide that the SEC established at the time.
According to the report, the measure recommended by the newly appointed cryptocurrency czar, David Sacks, has to do with concerns with Staff Accounting Bulletin 121, known as SAB 121, implemented by the SEC under the administration of President Joe Biden, which requires companies that hold cryptocurrencies to record such assets belonging to clients as liabilities on their balance sheets. 👈
🚀🚀🚀With less than 7 days to go until he takes office, Trump already has measures in favor of cryptocurrencies in mind. Will this be the moment when $BTC breaks $108,000 or when $XRP finally reaches the long-awaited $3? 🤔🚀🚀🚀
I read you…😀
