Significant changes are planned for the crypto sector under President Trump, affecting both domestic and international fronts.
New Crypto Advisory Council
One of Trump's first expected actions is to create a presidential crypto council. This council will include about 20 leaders from the cryptocurrency industry, mainly made up of CEOs and founders. These experts are expected to provide guidance and help shape the administration's policy on digital assets.
Addressing SAB 121
Another focal point for Trump's executive orders will be the repeal of the SEC's rule known as SAB 121, which requires companies holding cryptocurrencies to record them as liabilities on their balance sheets. This rule has faced significant pushback from the crypto community.
International Collaboration and Reforms
Trump's administration is considering further reforms in the crypto sector, including forming a working group with the SEC and CFTC to coordinate regulation of digital assets. There is also a focus on fostering international cooperation to advance cryptocurrency innovations.
Trump's administration plans could significantly impact the crypto industry, promoting its development and improving access to financial services.
