As Donald Trump prepares for his inauguration, addressing banking obstacles faced by the crypto industry may become a priority. While initial executive orders may generate excitement, significant actions are expected at regulatory agencies like the SEC and FDIC. Former SEC Commissioner Paul Atkins is likely to be nominated, with a potential acting chair, Mark Uyeda, poised to reverse the controversial SAB 121, which mandates banks to treat customer crypto assets as their own. Both Uyeda and current Commissioner Hester Peirce have expressed discontent with this accounting standard. Additionally, the FDIC’s new interim leadership could lead to clearer guidelines allowing banks to engage in crypto activities more freely. Recent comments from Travis Hill indicate plans to revise FDIC restrictions on crypto banking. The impending shift in leadership at various regulatory agencies, including the OCC and the Federal Reserve, could further loosen constraints, shaping a more favorable landscape for crypto banking in the U.S.

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