Why President Trump rescinding SAB 121 is such a "YUGE" deal for Bitcoin & Crypto! 🏦🪙

SAB 121 considered Bitcoin/Crypto assets as a "Liability" on the books of the Bank. The Banks had to hold dollar-for-dollar reserves for the value of that Bitcoin/Crypto. If the Bitcoin/Crypto being held was worth $100M, the bank had to keep $100M in US Dollars locked up that they could not lend out. No Bank would touch Bitcoin/Crypto assets as a result. Now that SAB 121 is gone, you will soon see Banks let customers borrow against their Bitcoin/Crypto, and likely interest payments (typically 5%) on the value of that Bitcoin/Crypto, without having to sell that Bitcoin/Crypto. Very cool. Just keep in mind: "Not your Keys, Not your coins."

It won't happen overnight as there is no infrastructure built yet for Banks to safely hold Bitcoin/Crypto, or guidelines. But rest assured they are already working on it in a race against one another.

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