Circle CEO Predicts Executive Order on Digital Assets Under Trump

Jeremy Allaire, the CEO of Circle, has expressed Optimism that US President Donald Trump will soon issue an executive order to facilitate banks' engagement in digital asset custody. Speaking at the Reuters Global Markets Forum during the World Economic Forum in Davos, Switzerland, Allaire mentioned that such orders could be issued 'soon,' though he did not specify a timeline. A significant concern highlighted is the Staff Accounting Bulletin (SAB) 121 by the Securities and Exchange Commission, which restricts financial institutions from holding crypto assets on their books. Allaire noted that while Congress had previously voted to repeal SAB 121, President Joe Biden vetoed the decision, stating that his administration would not support policies that hinder the regulation of digital assets.