The impending repeal of SAB 121 is the biggest catalyst for cryptocurrency and Bitcoin price appreciation.
donald trump assumed as US president on January 20, but there are many expectations for the measures that The new president could announce for the cryptocurrency sector. According to reports, one of the first would be to repeal a 2022 accounting standard, SAB 121, which requires those who hold cryptocurrencies to record them as liabilities on their balance sheets.
Critics, however, who This measure does not accurately reflect the legal and financial obligations of custodianswho do not have real control over the assets (which belong to the clients) but in the accounting they have them recorded as debt.
There is also expectation in the crypto community for other promises that Trump made during the campaign, such as: promoting the creation of strategic reserves in bitcoinsclarify the complicated panorama crypto regulatoryand position the US as a global crypto reference.
Other measures that could be taken are with artificial intelligence, such as repeal a 2023 executive order requiring companies to conduct safety tests and share the results with federal authorities.
Source: Ambito
