Davos, Switzerland – Circle CEO Jeremy Allaire expects imminent executive orders from incoming US President Donald Trump that could allow banks to trade crypto, offer crypto investments to wealthy clients, and hold it in portfolios. Allaire said that he would like to see the repeal of the Securities and Exchange Commission’s Staff Accounting Bulletin 121, which made it punitive for banks and financial institutions to hold crypto assets on their balance sheet.
As the issuer of the USDC stablecoin, a digital token pegged to the value of the US dollar, Allaire is optimistic that Trump’s executive orders could promote widespread adoption of digital assets. He also expects renewed activity from Congress on digital asset regulations, with Committee work expected to be “very active” in the coming weeks. Circle already counts banks as commercial partners, and Allaire expressed his support for repealing the SEC’s bulletin, saying it would be “something I think to watch closely in terms of EOs.”