CEO Circle: Trump is Preparing to Issue Executive Orders on Cryptocurrencies Soon

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CEO Circle: Trump is Preparing to Issue Executive Orders on Cryptocurrencies Soon

Newly elected U.S. President Donald Trump is expected to soon sign an executive order allowing banks to trade cryptocurrencies, provide custody services, and offer cryptocurrency investment products to their clients. This was reported by Circle CEO Jeremy Allaire in an interview with Reuters.

Jeremy Allaire also noted that he hopes for the repeal of Staff Accounting Bulletin (SAB) 121, issued by the U.S. Securities and Exchange Commission (SEC). According to him, this document “virtually eliminated the economic feasibility of holding crypto assets on the balance sheets of banks, financial institutions, and corporations.”

“This is something that, in my view, should be closely monitored in terms of presidential executive orders. I strongly advocate for its repeal and hope that Trump will make it happen […] Circle is already considering banks as commercial partners” – Allaire added

Additionally, the CEO of Circle expressed expectations that Congress would resume active efforts in regulating digital assets. According to him, “the work of the Digital Assets Committee will become extremely intensive in the coming weeks.”

Notably, the CEO of the crypto magazine Bitcoin Magazine, David Bailey, stated:

Got confirmation tonight that our EOs are among the first 200. I have no idea what made it in, but good news cometh

— David Bailey🇵🇷 $0.85mm/btc is the floor (@DavidFBailey) January 21, 2025