Circle CEO Jeremy Allaire shared his optimism about the potential for Trump's administration to support crypto initiatives and ease banking restrictions.
Trump's Crypto Stance
Donald Trump has repeatedly positioned himself as a "crypto president." Allaire believes that Trump will issue orders to allow banks to trade and offer crypto investments, potentially accelerating digital asset adoption.
SEC Challenges
One of the issues Allaire raised in the interview was the SEC's Rule 121, which complicates the holding of crypto assets by financial institutions. Allaire emphasized the importance of repealing the rule to foster a more favorable environment for banks dealing with cryptocurrencies.
Impact of Trump's Meme Coin
The launch of Trump’s own meme coin sparked both enthusiasm and criticism within the industry. The coin reached a market cap of $15 billion, yet some in the crypto community questioned the project's legitimacy.
The crypto community remains cautiously optimistic, hoping for Trump's support. Paul Atkins' appointment as a crypto advocate to oversee the SEC has also been seen positively by the industry.
