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President Trump Expected to Issue Crypto-Friendly Executive Orders: Circle CEO
In a recent development that has sent shockwaves through the cryptocurrency community, it has been revealed that US President Donald Trump is set to issue executive orders aimed at easing regulatory norms and accelerating the adoption of digital assets in the country.
According to an interview with Circle CEO Jeremy Allaire, Trump’s administration is likely to introduce measures that will make it easier for banks to own and manage digital assets. Furthermore, Allaire has expressed his support for repealing the U.S. SEC’s Staff Accounting Bulletin 121 (SAB 121), which currently restricts financial institutions from holding cryptocurrencies on their balance sheets.
“We expect Committee work to be very active, literally in the coming weeks,” Allaire emphasized during the interview, indicating that significant developments are imminent. Faryar Shirzad, Chief Policy Officer at Coinbase, echoed these sentiments, stating that he expects the new SEC will take action that “will almost certainly bring banks much more into the custodial space.”
The Trump administration’s pro-crypto stance has been further solidified by the recent launch of two memecoins, $TRUMP and $MELANIA. The unexpected move has sparked mixed reactions among industry leaders, with some welcoming the development while others have expressed skepticism.
Despite the controversy surrounding the memecoins’ introduction, their market value has shown remarkable initial success, with $TRUMP soaring to a market value of nearly $7.08 billion before experiencing an 18% decline, currently trading at approximately $35.53.
The crypto community is now focused on Trump’s upcoming executive orders, which will have significant implications for the regulatory landscape and shape the future of cryptocurrency in the country.
Source: www.cryptonewsz.com
