Catenaa, Thursday, January 16, 2025 – Speculation was rife that US President-elect Donald Trump could sign executive orders on his first day in office targeting crypto de-banking policies and repealing a contentious bank accounting rule from the Biden administration.
The orders would reverse the SEC’s March 2022 Staff Accounting Bulletin (SAB 121), which required banks holding cryptocurrency to list digital assets as liabilities.
Critics of SAB 121, including the crypto industry, claim it hindered access to financial services, labeling it as part of a broader crackdown dubbed “Operation ChokePoint 2.0.”
Trump’s team has signaled its intent to prioritize these reversals, with industry leaders urging swift action within his first 100 days.
Trump’s administration is also expected to revisit tech regulations, including a Biden-era AI executive order criticized for its focus on equity.
David Sack, Trump’s advisor on crypto and artificial intelligence, has indicated plans to roll back these policies.
States such as Texas, Pennsylvania, and Ohio have proposed or enacted legislation to establish strategic Bitcoin reserves, with lawmakers citing its potential as a hedge against economic uncertainty.
These moves align with Trump’s campaign promises to bolster the US crypto sector by reducing regulatory barriers and creating a Bitcoin reserve.
Key figures like venture capitalist Marc Andreessen are reportedly shaping Trump’s tech agenda, which could mark a significant shift in federal crypto and tech policy under the new administration.
