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Circle CEO Jeremy Allaire anticipates that President Donald Trump will sign a series of executive orders allowing banks to hold crypto assets, conduct trades, and offer crypto services to wealthy clients. These potential moves could significantly impact the cryptocurrency landscape in the United States.
Executive Orders and Crypto Regulations
In an interview with Reuters, Allaire expressed optimism that Trump will take substantial steps to support the crypto sector. He specifically hopes for the repeal of the SEC’s SAB 121 guidance, which mandates that certain companies report crypto assets as liabilities on their balance sheets.
Allaire argues that removing this directive would positively affect the crypto market. With Coinbase and Circle being among Trump’s biggest supporters, his predictions should not be dismissed as mere speculation. This issue may have been discussed and agreed upon in consultations with Trump or his advisors.
Trump’s Crypto Policies
During his previous presidency, Trump viewed Bitcoin 
$104,893 and cryptocurrencies with skepticism, but he now pledges to protect and grow the crypto asset sector ahead of the 2024 elections. He vows to end policies that hinder crypto investors’ usage of digital assets and to cease the sale of Bitcoin seized by the U.S. government.
“I want to closely monitor executive orders… I strongly support the repeal of SAB 121 and hope President Trump takes this step.” – Jeremy Allaire
Circle contributed $1 million to Trump’s inauguration committee through its stablecoin, USDC, which highlights its growing influence in the crypto space.
Trump’s approach to cryptocurrency may herald a significant shift in the asset market. Allowing banks to engage more actively in crypto trading could enhance market liquidity and draw institutional investors’ interest.
The relaxation of crypto regulations could foster industry growth, but these steps must also be evaluated carefully concerning market stability and investor protection.
Permitting banks to trade cryptocurrencies could promote wider usage of these assets, thus bolstering institutional acceptance and supporting financial innovations.
