Circle CEO: The executive order to be implemented by the US government is expected to expand the cryptocurrency industry.

Jeremy Allaire, CEO of Circle, the second largest issuer of stablecoin USDC globally, expects that President Trump is "close" to issuing an executive order that may allow banks to transact with cryptocurrencies, offer cryptocurrency investments to wealthy clients, and include them in portfolios. Allaire expressed his hope to see the Securities and Exchange Commission's (SEC) Staff Accounting Bulletin 121 (SAB121) policy abolished - a policy aimed at regulating the accounting treatment of cryptocurrency custody. He noted that the policy "effectively penalizes banks, financial institutions, and corporates even for holding crypto assets on their balance sheets." Allaire added, "I think in terms of executive orders, this is one that is very important to watch." "I strongly support the abolishment of it. I hope that President Trump can take this action." It is worth mentioning that previous reports suggested Trump plans to issue an executive order elevating cryptocurrencies as a policy focus and giving industry insiders a voice in his administration, possibly as early as January 20th. The executive order may include: declaring national strategic priorities, potential suspension of cryptocurrency-related litigations, and considering establishing a national Bitcoin reserve. Furthermore, Jeremy Allaire anticipates that the US Congress will renew activity in digital asset regulation, stating, "We expect the Committees work to be very active in the coming weeks." Coinbase's Chief Policy Officer Faryar Shirzad also said, "We expect a new SEC to take action that will almost certainly bring more banks into the world of cryptocurrency custody." "Widespread adoption of cryptocurrencies is beneficial to the ecosystem, so we strongly support the participation of other actors."