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"The staff reminds entities that they should continue to consider existing requirements to provide disclosures that allow investors to understand an entity's obligation to safeguard crypto-assets held for others.
SEC Commissioner Hester Peirce took to X and shared the cryptocurrency-positive news
The new rule change by the SEC could have a positive impact on the cryptocurrency market. If banks increase their crypto offerings to clients, it could lead to a market rally. Many financial institutions have opened their doors to crypto after increased client demand.
US President Donald Trump has signed an executive order to establish a digital asset stockpile. The move led to an uptick in investor sentiment.
Both developments could lead to a gradual increase in funds in cryptocurrencies. Trump has said that he wants the crypto industry to thrive in the US. Many anticipate lenient regulations over the next four years. We may witness an extended bull run under Trump's leadership.