Standard Chartered analysts: Trump is expected to overturn Biden's veto of SAB 121
Geoff Kendrick, global head of digital assets research at Standard Chartered Bank, believes that many of Trump's promises to support cryptocurrency will drive up the price of Bitcoin. He expects Trump to overturn Biden's veto of SAB121, a controversial accounting guideline from the US Securities and Exchange Commission (SEC) that critics say prevents investment banks from offering large-scale cryptocurrency custody services. Kendrick believes that Trump will achieve this goal soon after taking office on January 20th next year, and that this move will drive more institutions to adopt cryptocurrency.
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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