There is expectation of a better environment for Bitcoin and cryptocurrency in general once a Republican administration is in office.
Joe Biden could veto legislation that would allow regulated financial institutions to custody Bitcoin and crypto. Biden administration’s stance would disrupt US SEC’s work to protect crypto market investors and efforts to safeguard broader financial system. Standard Chartered and ex-SEC official John Reed Stark have previously said a Republican administration would be good for crypto industry.
Read more https://t.co/jnIBJFHIPj Watch pic.twitter.com/fOxOh8DtWH — Financial Services GOP May 8, 2024 Another politician that has supported the policy is US Congressman French Hill, saying, Holding reserves against the assets held in custody is NOT standard financial services practice. The Biden Admin's SAB 121 is misguided and should be nullified. Holding reserves against the assets held in custody is NOT standard financial services practice.
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