Circle CEO Jeremy Allaire on Trump’s Potential Crypto Executive Orders and Their Impact
Circle CEO Jeremy Allaire has expressed confidence that U.S. President Donald Trump is likely to issue executive orders related to cryptocurrency in the near future. Allaire suggested these actions could enable banks to trade crypto, offer crypto investments to wealthy clients, and hold digital assets in their portfolios. As the issuer of USDC, the world’s second-largest stablecoin by market cap, Circle stands to benefit from any regulatory changes that facilitate crypto adoption.
USDC and Crypto Adoption Under Trump
Circle’s USDC stablecoin is pegged to the value of the U.S. dollar, and is currently ranked as the eighth-largest cryptocurrency according to CoinGecko. Allaire’s comments came ahead of Trump’s inauguration, where the newly elected president is expected to act on his promise to be a “crypto president.” Trump’s agenda includes reducing regulatory roadblocks and encouraging the wider adoption of digital assets.
Trump’s own cryptocurrency, which was recently launched, saw a significant surge in value, reaching nearly $12 billion in market value on the day of his inauguration. The new administration’s push to ease regulations could be a game changer for digital assets.
Regulatory Changes and Industry Reactions
Allaire also mentioned the potential repeal of the Securities and Exchange Commission’s Staff Accounting Bulletin 121. This bulletin, he stated, has made it difficult for banks, financial institutions, and corporations to hold crypto assets on their balance sheets without facing punitive actions. “I’m strongly in favor of repealing it,” said Allaire, hoping President Trump will take action on this matter.
In addition to executive orders, Allaire expects Congress to take up discussions on digital asset regulations in the coming weeks. Faryar Shirzad, Chief Policy Officer at Coinbase, also anticipates swift regulatory actions under the new administration, which could bring more banks into the crypto custodial space.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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