Circle CEO Allaire Expects Trump to Issue Crypto Orders

Circle CEO Jeremy Allaire anticipates that incoming President Donald Trump will issue executive orders soon after his inauguration, which could significantly ease regulatory hurdles and foster cryptocurrency adoption. Allaire envisions these orders enabling banks to trade cryptocurrencies, offer investments to wealthy clients, and hold digital assets in their portfolios. A key focus is the potential repeal of the SEC's Staff Accounting Bulletin 121, which has restricted banks from holding crypto assets on their balance sheets. Trump's administration, positioning itself as pro-crypto, is expected to promote widespread adoption of digital assets and reduce regulatory barriers. Additionally, Allaire predicts increased legislative activity surrounding digital asset regulations from Congress in the near future. Overall, the crypto sector sees a favorable shift in policy with the new administration, contrasting with the previous four years of perceived hostility.