Jeremy Allaire, CEO of Circle, believes that President Donald Trump will enable banks to trade crypto assets.
In new interview With Reuters, Allaire expects Trump to sign a series of Executive Orders (EOs) enabling banks to hold digital assets in wallets, trade them and provide cryptocurrency services to wealthy clients.
The CEO also says he hopes the SEC will repeal SAB 121.
“This is something that I think should be watched closely as it relates to foreign offices…I strongly support repealing it and I hope President Trump will take that action.”
SAB 121 is a guidance circular that states that some companies must classify digital assets as liabilities on their balance sheets, even if they simply hold them for clients.
After expressing skepticism about Bitcoin (BTC) and cryptocurrencies during his previous presidential term, Trump spent the year leading up to the October election pledging to protect and grow the digital asset sector.
He promised to end policies that prevent cryptocurrency investors and companies from using digital assets, and also said the United States would stop selling its collection of seized bitcoins on the open market.
Allaire, Circle, which issues USDC, contributed $1 million worth of stablecoin Before Trump’s inauguration committee earlier this month.
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