US President Trump Will Issue Pro-Cryptocurrency Executive Orders: Circle CEO

President Donald Trump is expected to issue executive orders aimed at easing cryptocurrency regulations and accelerating the adoption of digital assets in the United States.

Trump’s Executive Orders for the Cryptocurrency Fraternity

Jeremy Allaire, CEO of Circle, revealed that Trump is likely to introduce measures that will make it easier for banks to own and manage digital assets. Allaire also called for the repeal of the SEC’s Staff Accounting Bulletin 121 (SAB 121), which currently restricts financial institutions from holding cryptocurrencies on their balance sheets.

“This is something I think should be closely monitored in relation to offshore offices [executive orders]”, Aller male In a recent interview. He affirmed his support for repealing SAB 121 and expressed optimism that the Trump administration would take decisive action. Allaire also noted that Congress is expected to get involved in cryptocurrency-friendly initiatives soon, saying: “We expect the committee work to be very active, literally in the coming weeks.”

Faryar Shirzad, chief policy officer at Coinbase, echoed these sentiments. “We expect the new SEC to take action,” he said, adding that such actions “will almost certainly bring banks into the realm of receivership.”

Memecoin launch for Donald Trump

Trump’s pro-crypto stance was recently underscored by his launch of the memecoin $TRUMP, followed by Melania Trump’s introduction of $MELANIA. While these moves highlight his administration’s strategic alignment with the cryptocurrency space (with a nod to the Trump family’s mutual benefits), they have sparked mixed reactions among industry leaders.

Despite some criticism, Trump’s venture had notable initial success, rising to a market value of about $7.08 billion. However, the cryptocurrency has since seen an 18% decline, and is currently trading at approximately $35.53.

As a result, the cryptocurrency community has its eyes on Trump’s policies that will impact the regulatory landscape and shape the future of cryptocurrencies in the country.

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