Trump’s Inauguration May Impact Crypto Banking Policies
- The SEC’s Staff Accounting Bulletin No. 121 (SAB 121) requires banks to treat customers’ crypto assets as their own on balance sheets.
- Paul Atkins is expected to be nominated as SEC chair, potentially leading to the withdrawal of SAB 121.
- Republican Vice Chairman Travis Hill will temporarily lead the FDIC, possibly easing restrictions on crypto activities for banks.
- The OCC has been under acting leadership for over three years, awaiting a new appointment.
- Michael Barr, Fed’s vice chairman for supervision, will step down in February, opening potential changes in crypto policies.
The inauguration of President-elect Donald Trump could lead to significant changes in U.S. crypto banking policies, with key figures like Paul Atkins and Travis Hill potentially easing existing restrictions such as SAB 121.
