Jeremy Allaire, CEO of Circle, expressed his expectations for upcoming directives by Donald Trump aimed at supporting the crypto industry.
Trump's Stance on Cryptocurrency
Donald Trump has previously voiced support for the crypto industry, calling himself a 'crypto president'. Allaire believes these actions will allow banks to trade and offer crypto investments to wealthy clients, promoting digital asset adoption.
Regulatory Barriers and the SEC
A key issue is the SEC Staff Accounting Bulletin 121, which Allaire says complicates the handling of crypto assets by financial institutions. He hopes that Trump will repeal this regulation, creating more favorable conditions for banks to integrate crypto assets.
Impact of Trump's Meme Coin
The launch of Trump's own meme coin, $TRUMP, received mixed reactions. While the coin reached a $15 billion market cap, concerns about its legitimacy and potential impact on the broader crypto market arose. Despite this, many are hopeful that Trump's initiatives will foster a more supportive regulatory environment.
The crypto community is optimistic about Trump's leadership leading to better conditions for digital assets, particularly with his appointment of Paul Atkins to oversee the SEC.
