#Crypto Rally Fueled by Policy Support: #Ethereum Presents a Tactical Trade

@realDonaldTrump is delivering on his crypto promises.

👇1-13) Trump has established the Presidential Working Group on Digital Asset Markets, a dedicated initiative to address and oversee the evolving landscape of digital assets. As anticipated, #SAB121 appears to have also been repealed.

👇2-13) This accounting bulletin previously required companies holding crypto assets (custodial platforms, exchanges, or fintech firms) on behalf of customers to recognize a liability on their balance sheets, reflecting their obligation to safeguard those assets—particularly against cybersecurity risks. Its implementation caused banks to hesitate in offering crypto-related services due to the added regulatory burden.

👇3-13) However, with the repeal of this guidance, banks may now be more willing to serve crypto customers. This could open the door to various services, including staking offerings, cross-margin borrowing using crypto assets as collateral, and broader crypto-related financial products.

👇4-13) This could be a pivotal moment for Ethereum, as it can potentially drive the expansion of DeFi services, positioning itself as the backbone of the ecosystem. While we’re not typically strong proponents of ETH, the current setup presents a compelling, low-risk, high-reward opportunity.

👇5-13) Full report:----
#Crypto #Ethereum