Circle CEO Jeremy Allaire anticipates imminent executive orders to drive crypto adoption and reshape financial institutions.
Executive Orders to Reshape Crypto Regulations
Circle CEO Jeremy Allaire predicts that President Donald Trump will issue executive orders soon, enabling broader cryptocurrency adoption. These orders could permit banks to trade cryptocurrencies, offer crypto investment options to wealthy clients, and include crypto assets in portfolios.
Circle, the company behind the USDC stablecoin, is set to benefit significantly from such actions. USDC is currently the second-largest stablecoin globally, ranking eighth among cryptocurrencies by market value, according to CoinGecko.
Crypto Excluded From @realDonaldTrump‘s Speech but Remains on the Agenda Read More 👉 13desk.news/crypto-exclude… #13Desk #DonaldTrump #Blockchain
Trump’s Commitment to the Crypto Industry
As the self-proclaimed “crypto president,” Trump has pledged to reduce regulatory barriers and promote the widespread adoption of digital assets. His administration is expected to introduce policies that encourage financial institutions to embrace cryptocurrencies. Trump’s own cryptocurrency recently reached a market value of nearly $12 billion.
Key Policy Changes on the Horizon
Allaire emphasized the importance of repealing the SEC’s Staff Accounting Bulletin 121, which has made it challenging for banks and corporations to hold crypto assets on their balance sheets. “I’m strongly in favor of repealing it, and I hope President Trump takes that action,” Allaire stated during an interview at the Reuters Global Markets Forum in Davos.
Circle already partners with several banks, and Allaire believes the executive orders will expand opportunities for financial institutions to integrate digital assets into their operations.
Legislative Activity Expected to Surge
The Circle CEO also predicts heightened congressional activity regarding digital asset regulations in the coming weeks. “We expect Committee work to be very active,” Allaire remarked, reflecting optimism for comprehensive policy developments under Trump’s administration.
Industry Leaders Echo Optimism
Faryar Shirzad, Chief Policy Officer at Coinbase, shared Allaire’s sentiments, expecting the new SEC to take swift action to bring banks into the custodial crypto space. “Broad-based adoption of crypto is good for the ecosystem, and we support other participants joining in,” Shirzad told Reuters.
Implications for the Crypto Ecosystem
The anticipated executive orders and regulatory reforms are expected to facilitate mainstream adoption of cryptocurrencies. These developments will position the United States as a global leader in digital asset innovation and integration, reinforcing Trump’s vision for the crypto industry.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
