Jeremy Allaire, the CEO of Circle, anticipates executive orders from President Donald Trump that will permit banks to trade crypto, provide wealthy clients with crypto investments, and retain cryptocurrency in the banks’ portfolios.

This is according to a report from the ongoing World Economic Forum (WEF) in Davos, Switzerland.

USDC, Circle’s stablecoin is currently the 8th largest cryptocurrency and the 2nd largest stablecoin in the world by market capitalization. President Trump is largely expected to sign executive orders to lower regulatory barriers related to crypto and encourage the broad use of digital assets, due to his pro-crypto stance.

Allaire expressed his desire for the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 to be repealed which made it punitive for banks and financial institutions to hold crypto on their balance sheet.

“That’s something I think to watch closely in terms of executive orders. I’m strongly in favor of repealing it and I would hope that President Trump would take that action.”

This projection by Circle’s CEO underscores the evolving regulatory landscape for digital assets in the U.S. If signed, the executive orders with facilitate bank participation in the crypto market, fostering greater institutional adoption and contributing to the growth of the crypto industry.

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