The White House has taken a different approach to crypto during President Joe Biden’s term, often opposing it. This included vetoing a controversial accounting measure, SAB 121, which complicates banks’ ability to custody crypto assets. However, the tone shifted when former President Donald Trump expressed support for the industry in May. He even went as far as promising to establish a strategic bitcoin reserve, advocate for the release of Silk Road creator Ross Ulbricht from prison, and support the growth of the bitcoin mining sector in the United States.
