As the DeFi and crypto space evolves rapidly, staying informed about the latest developments and trends is essential.
US President Donald Trump Signs Landmark Crypto Executive Order
On January 23, President Donald Trump issued an executive order to strengthen U.S. leadership in blockchain and digital assets. The directive emphasizes regulatory clarity, financial independence, and privacy. Notably, it bans federal efforts to develop or promote Central Bank Digital Currencies (CBDCs) in the United States.
SEC Rescinds 'Anti-Crypto' SAB 121, Introduces SAB 122
The U.S. SEC has withdrawn its controversial Staff Accounting Bulletin (SAB 121) and introduced SAB 122, offering a more flexible approach for financial institutions managing digital assets. SAB 121, implemented in 2022, required cryptocurrency assets held for users to be recorded as liabilities, causing concerns in the financial and crypto sectors. SAB 122 allows institutions to custody digital assets without labeling them as liabilities but mandates disclosure of related risks and obligations.
Bitwise Files for DOGE ETF Amidst Growing Meme Coin Interest
On January 23, Bitwise Asset Management filed for a Dogecoin (DOGE) exchange-traded fund (ETF) with the U.S. SEC, signaling its intent to launch a DOGE-focused investment product. The filing, confirmed by Chief Investment Officer Matt Hougan, is a preliminary step towards a full SEC proposal and includes establishing a Delaware statutory trust to ensure clear governance and tax benefits.
The cryptocurrency and DeFi industries continue to develop actively, offering new opportunities and challenges for market participants.
