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Circle CEO Anticipates Trump’s Crypto Executive Orders Right After Inauguration
Donald Trump’s inauguration as the 47th US President has sparked excitement in the crypto space, with expectations of a crypto revamp. Notably, experts predict potential policy changes, including revisions to banks’ crypto trading practices and an end to the controversial Operation Chokepoint 2.0 under the new administration.
In this context, Circle CEO Jeremy Allaire has expressed his anticipation for Trump’s executive orders on cryptocurrency, which are expected to be announced immediately after inauguration. According to a latest report from Reuters, Allaire believes that these policies will simplify crypto trading for banks, enabling clients to invest in and hold digital assets more easily.
As per reports, Trump has promised to issue over 100 executive orders on his first day in office. This surge of executive actions is speculated to include measures aimed at reducing crypto regulatory hurdles and promoting the widespread adoption of digital currencies following his inauguration on Monday.
In a recent statement, Allaire reiterated his strong support for repealing the SEC’s Staff Accounting Bulletin 121 (SAB 121), which has been seen as punitive for banks and financial institutions to hold crypto assets on their balance sheets.
There is growing speculation about potential crypto-friendly policies under Trump’s administration. This includes the possibility of a Bitcoin reserve, clarifications on digital assets’ security status that could resolve high-profile cases like the Ripple-SEC lawsuit, and hopes for overall crypto regulations to be overhauled by the pro-crypto SEC Chair Paul Atkins.
However, it is worth noting that Donald Trump’s administration did not prioritize cryptocurrency in its recent document sent to Republican lawmakers or during his inauguration speech, which has raised eyebrows within the community. This unexpected development led to a notable dip in Bitcoin prices following these events.
As experts and the crypto community await an overhaul of regulations under the new administration, anticipation builds around potential crypto executive orders from Trump’s desk.
Source: coinpedia.org
