Standard Chartered Analyst: It is expected that Trump will overturn Biden's veto on SAB 121
Standard Chartered Bank's Global Head of Digital Asset Research, Geoff Kendrick, believes that many of Trump's pro-cryptocurrency commitments will drive up Bitcoin. He anticipates that Trump will overturn Biden's veto on SAB121, a controversial Securities and Exchange Commission (SEC) accounting guideline criticized for preventing investment banks from offering large-scale cryptocurrency custody services. Kendrick expects this goal to be achieved soon after Trump takes office on January 20 next year and believes it will encourage more institutions to adopt cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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