As President-elect Donald Trump prepares to assume office on January 20, his administration is reportedly prioritizing crypto de-banking policies and revising controversial financial regulations. According to a Washington Post report on January 13, Trump’s first day in the White House could see the issuance of executive orders with significant implications for the cryptocurrency sector.
Reversing SAB 121: A Top Priority
One of the anticipated executive actions involves repealing the Staff Accounting Bulletin 121 (SAB 121), a policy introduced under the Biden administration in March 2022. The rule requires banks holding cryptocurrency to classify digital assets as liabilities on their balance sheets, a move that has been widely criticized by the crypto industry.
The Trump team has reportedly emphasized the urgency of reversing SAB 121, which has been seen as part of a broader crackdown on the cryptocurrency sector. Industry leaders have labeled this crackdown as “Operation ChokePoint 2.0”, accusing the Biden administration of deliberately restricting the crypto industry’s access to financial services.
Sources close to Trump’s incoming administration suggest that at least one crypto-related executive order could be signed on inauguration day, signaling a decisive shift in U.S. crypto policy.
Broader Tech Policy Revisions
In addition to crypto-focused measures, Trump’s administration is expected to revisit other technology-related regulations. David Sack, Trump’s designated advisor for cryptocurrency and artificial intelligence, has hinted at plans to revoke Biden’s 2023 AI executive order, which faced criticism for emphasizing equity in the development of AI technologies.
Prominent venture capitalist Marc Andreessen, a strong advocate for cryptocurrency and tech innovation, is said to be actively shaping Trump’s administration. Andreessen has reportedly been instrumental in recruiting key personnel for roles in technology, defense, and intelligence, further underscoring the administration’s commitment to tech-driven policies.
State-Level Momentum for Bitcoin Reserves
Trump’s pro-crypto stance aligns with growing momentum at the state level to integrate Bitcoin into treasury reserves. Recent legislative efforts by states such as New Hampshire and North Dakota propose the creation of strategic Bitcoin reserves to diversify state treasuries.
Other states have taken similar steps:
• Ohio proposed a bill to include Bitcoin in its treasury reserves, spearheaded by House Republican leader Derek Merrin.
• On December 12, 2024, Texas Representative Giovanni Capriglione introduced the Texas Strategic Bitcoin Reserve Act, mandating the state comptroller to hold Bitcoin as a reserve asset for at least five years.
• Pennsylvania, in November, introduced legislation to allocate up to 10% of its treasury balance to Bitcoin, citing its potential as a hedge against economic uncertainty.
These initiatives reflect a growing trend among U.S. states to embrace cryptocurrency as a strategic asset, reinforcing Trump’s campaign promise to establish a national Bitcoin strategic reserve and reduce regulatory barriers for the crypto industry.
Corporate Support for Bitcoin Grows
The push for Bitcoin adoption isn’t limited to governments. Leading corporate Bitcoin holders, such as MicroStrategy and Metaplanet, have continued to expand their Bitcoin reserves, highlighting the asset’s growing appeal as a hedge against inflation and economic uncertainty.
Conclusion: A New Era for Crypto in the U.S.
With Trump’s return to the White House, the cryptocurrency industry is poised for a potential transformation. By prioritizing executive actions to reverse restrictive policies like SAB 121 and addressing crypto de-banking concerns, the incoming administration signals a renewed focus on fostering innovation and bolstering the U.S. crypto sector. Combined with state-level momentum and corporate backing, 2025 could mark the beginning of a new chapter for digital assets in America.
