Trump is melding the worlds of upstart crypto and old-school finance

Trump is melding the worlds of upstart crypto and old-school finance

The financing of old schools and encryption world in UPSTART is close to which President Donald Trump encourages a more suitable organization for digital assets while participating financially in its growing popularity.

The latest example of this meeting came last week when the Trump group announced the media and technology bearing the name of the President (DJT) of plans to expand financial services through the launch of a company called Truth.fi.

Trump for the media will allocate up to $ 250 million in the truth. The company that maintains the custody of these funds will be one of the best financial giants known in America: Charles Schwab.

The company’s logo is displayed for Charles Shawab at a site in New York City. Reuters/Brendan McDermide/File Photo · Reuters / Reuters

Some other big names in Wall Street may look at a contract of encryption assets for its customers as a result of the change that was put forward by the Trump administration during his first week in office.

The Securities and Stock Exchange Committee decided to eliminate part of the accounting guidance known as the Personnel Accounting Bulletin 121 (SAB 121), which called on financial institutions to retain encryption on their public budget as a commitment.

The old guidelines have made it very expensive for most of the organized banks to provide coding nursery. He also called for increasing general disclosure of non -banking financial companies such as Coinbase Global (COIN), a major exchange of cryptocurrencies.

“Goodbye, SAB 121! It was not fun,” said SEC Hyster Pearce Commissioner in X. mail Celebrate change.

Kevin Frum, CEO of the Bank of Financial Services for Financial Services, launched the SEC base changing a “step in the right direction”.

Thinking within the encryption circles is that this one step is part of the shift of the direction that will eventually encourage more banking giants to deal with digital assets. Such a shift would bring broader acceptance acceptance.

Al -Nuborger, head of the Blockchain Group at Proskauer, said that more American financial institutions are allowed to carry digital assets will lead to a “greater level of encryption integration in the prevailing financial channels.”

More than that, encryption is likely to become more common investment assets such as securities, gold or other precious metals. “

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