Trump Ready to Issue Orders for Crypto Market Growth, Predicts Circle CEO

user avatar

by Giorgi Kostiuk

2 years ago

Circle CEO Jeremy Allaire recently stated that he anticipates President Donald Trump to soon sign orders aimed at reducing banking restrictions on digital assets.

Trump’s Pro-Crypto Stance

Donald Trump, a known supporter of cryptocurrencies, referred to himself as a 'crypto president' during his campaign. Allaire believes that the president might issue orders enabling banks to trade and offer crypto investments to wealthy clients, thus advancing digital asset adoption.

Regulatory Challenges and Allaire's Hopes

A key issue highlighted by Allaire is the SEC Staff Accounting Bulletin 121, which complicates banks holding crypto assets on their balance sheets. Allaire hopes that Trump will repeal this rule, thus creating a more favorable environment for bank-crypto collaborations.

I'm strongly in favour of repealing it and I would hope that President Trump would take that action.Jeremy Allaire

Impact of Trump’s Meme Coin

Despite Trump's pro-crypto stance, the launch of his meme coin $TRUMP has received mixed reactions. Over the weekend, its market cap reached $15 billion, sparking both excitement and criticism. Concerns have been raised about the project's legitimacy and its impact on the crypto ecosystem.

The crypto sector remains cautiously optimistic, hoping for a more supportive regulatory environment under Trump. The nomination of Paul Atkins, a former SEC commissioner and crypto advocate, has added to these hopes.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

XRP Ledger Foundation Unveils Quantum-Resistant Protocol Roadmap

The XRP Ledger Foundation has unveiled a roadmap focusing on quantum-resistant account options, including the study of MLDSA44.

user avatarLucas Weissmann

EU Seeks Nominations for New Tokenisation Standards Group

European authorities are inviting nominations for a new Tokenisation Standards Group to enhance coordination in the financial system.

user avatarFilippo Romano

Walt Introduces Standalone Android App for Cryptocurrency Trading

Walt has launched a standalone Android app for cryptocurrency trading, allowing users to sign up without a Telegram account.

user avatarEmily Carter

Charles Schwab Expands Crypto Trading Menu with New Altcoins

Charles Schwab has expanded its crypto trading menu to include Solana, Avalanche, and Chainlink, allowing eligible clients to trade a wider range of cryptocurrencies.

user avatarTomas Novak

24X and Standard Chartered Enhance Partnership for Institutional Crypto Trading

24X Bermuda expands its partnership with Standard Chartered to facilitate institutional trading of Bitcoin and Ether, enhancing access to cryptocurrency and foreign exchange.

user avatarKaterina Papadopoulou

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.