The newly elected U.S. President Donald Trump has announced plans to repeal a controversial crypto accounting policy that requires banks holding digital assets, such as Bitcoin, to classify them as liabilities
The policy has faced criticism from industry stakeholders who argue that it stifles innovation and creates unnecessary hurdles for banks engaged in cryptocurrency investments.
Trump’s statement signals a potential shift in regulatory approaches to digital assets, emphasizing the need for a more accommodating framework to foster growth in the sector. Experts believe that a repeal of this policy could encourage greater participation from financial institutions in the cryptocurrency market.
Stay tuned for updates on this developing story.
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