The US focus is on tokenization with friendly accounting rules

23. January 2025. The President Donald Trump began to transform the digital property industry, and the regulations for responsible growth and use of digital assets, block-technology and related technology in all sectors of the economy to ensure the position of American initialization. “They are involved:

• President Donald Trump issued Executive order, Strengthening American leadership in digital financial technology, who founded a working group in the markets of digital means chaired White House AI and Cripto Czar David Sacks (Who divided his opinions here);
• The US Securities Commission has confiscated the accounting rule SAB 121 which were hampered by financial institutions from detention of digital customer assets.

About SAB 121

Bulletin Staff Calculation 121 Has issued Securities Staff 31. Marta 2022. years, notice several bank misses involving Exposure to digital property industry. It was issued in response to an increase in the number of entities that provide digital assets detention services, which have unique technological, legal and regulatory risks associated with them.

The rule required the entity to recognize responsibility and appropriate assets at fair market value or FMV, because its obligation to protect digital assets for customers. This condition for disclosure of the balance sheet, which has not been applied to traditional funds – such as securities held in custody, by setting challenges for banks subject to regulatory reserves. The rule significantly increased the financial burden of these financial institutions that want to offer digital assets detention services, potentially deter them from market entries.

The rule also required the entities to provide a significant number of detailed disclosures, both risk-protected by financial statements, and outside the financial assets in relation to the protection of digital assets in the protection of protection and any risks in digital fixing protection and any risk in Digital funds for protection and any risks in digital protection protection for protection and any risk protection in digital means related to protection and any risk is protected in financial statements and outside financial statements about nature and the amount of digital assets. Such disclosures included information about who held cryptographic keys, which maintained internal records and which was obliged to provide digital property and protect them from loss or theft.

In addition, the rule was not easy to use because it did not define protection. Entities are often needed to use a significant judgment to determine whether the transaction fell into the framework.

For these reasons, traditional financial institutions are not favored by SAB 121. In essence, it created a significant barrier to offer detention services for digital assets, disturbing the innovations of tokenization.

William Quigley, who started a career as a bank auditor In front of the cryptocurnancy station and the investor lock and co-founder WAX.IO BlickChain and SteadyCoin Theater (USDTT), I explained to me:

“SAB 121 has set significant restraint on banks’ ability to maintain the Customer’s Corrupt Property, demanding a bank and accountability, for which it does not have to reserve capital on its balance sheet, although it does not own a digital asset. Remission Sab 121 will allow banks to tokenize. “

About SAB 122

Bulletin Staff accounting 122 Allows greater flexibility to banks and traditional financial institutions provided or are interested in providing digital detention services for pre-sab 121 accounting principles and standards in contingency reports (ASC 450-20)2) or (Mrs 373) In accordance with the accounting standards of GAAP and IFRS without the need for the relationship of responsibility for the responsibility that SAB 121 has imposed. Preliminary manual Provides the Office by COMPOLLER from the currency around 2020. years seemed thoughtless.

The SEC staff emphasizes that the entities should continue to provide clear and fundamental disclosures on risks, obligations and insecurity related to digital assets, which agencies in the Agency common statement 2023. years in detail for banks. “FDIC is looking forward to involving the President Working Group in the digital asset markets,” said Acting of the chairman of Travis Hill, which published 175 documents related to its supervision of banks engaged or asked to deal with, digital activities related to funds.

Consequently, the SAB 122, which refers to annual periods beginning after 15. December 2024 in any earlier temporary or annual period of financial report, does not release the reporting company to recognize the responsibility of detention activities on digital assets.

Conclusion

The working group in the markets of digital funds includes Sector Marka T. Sectoral Presidency Uieda, who launched a working group at the head of the Republic Commissioner Hester Peirce accused of developing a “comprehensive and clear regulatory framework for digital property.” The aim of this working group is to “less execute” and more through established regulatory guidelines, registration roads and requests for detection that will continue to drive institutional participation in the tokenization and wider growth of the market.

These tokenization of friendly initiatives – including SEC Working Group – are welcome with the world’s largest Nev York Bankies (BNI), which indigned His intention to expand his guardian services into digital assets, Association of American Bankers As “Etherhealize.io, which connects financial institutions to the largest, safe and open block-correction ecosystem ecosystem around the world,” said Vivek Raman, General Manager of EteraLaitualize.io.