Odaily Planet Daily reported that the blockchain company Blockdaemon recently stated that with less than two weeks until the U.S. presidential election, they hope to reflect on the recent regulatory developments regarding digital assets in the U.S., and how they will 'become indicators for the coming year.' Whether Harris or Trump is elected president, they optimistically believe that 2025 will provide 'more regulatory clarity for digital assets.' The article mentions that reaching a congressional consensus on the 'regulatory approach to digital assets' has always been a challenge. Some members of Congress support a regulatory framework, while others believe 'it is unnecessary.' Any congressional action requires bipartisan approval, and no single party 'has enough votes to pass legislation alone.' In May 2024, the Senate and House unexpectedly took 'bipartisan action to repeal' the SEC's crypto accounting policy SAB 121. SAB 121 requires financial institutions to classify 'digital assets as liabilities on their balance sheets and conduct complex disclosures and corresponding asset holdings.' This effectively made it impractical for financial institutions to custody digital assets. The article argues that the repeal of SAB 121 marks a necessary and ideal transformation. Unfortunately, the U.S. president vetoed this repeal, and SAB 121 remains in effect. Nevertheless, this congressional action is a hopeful step in the right direction. Blockdaemon also stated that FIT21 has currently reached an agreement with the Senate. The Senate has not yet taken action on this, but this 'does not indicate a lack of interest.' The Senate may delay the review until 'after the presidential election and the new government takes office.' In stark contrast to the 2020 presidential election, digital assets have become a top issue for candidates this year. SAB 121 and FIT21 reflect the growing interest in Congress. The article also notes that it is generally 'expected that other financial institutions will also seek and obtain similar exemptions, effectively repealing SAB 121,' which further adds to the 'evidence of changes in the regulatory environment,' suggesting that next year will be 'the year we finally see a regulatory framework for digital assets.' The Senate is likely to 'pass a version of FIT21, and with strong bipartisan support, the president will approve it.' Blockdaemon concludes that this will put the U.S. in a leading position in 'balancing consumer risk while leading the next wave of innovation.' (Crowdfund Insider)