Circle CEO Jeremy Allaire anticipates that US President Donald Trump could soon sign an executive order that would make it easier for banks to hold digital assets.
He has stated that the issuance of orders in favor of cryptocurrencies by President Trump is expected to occur "imminently," although he did not provide a specific timeline.
Allaire is particularly concerned about the Securities and Exchange Commission's Staff Accounting Bulletin 121 (SAB 121), which has been a controversial framework that hinders financial institutions from holding cryptocurrencies on their balance sheets.
Despite a vote in Congress to overturn SAB 121, the resolution was vetoed by President Joe Biden, who stated his administration does not support measures that put consumers and investors at risk.