{"id":102554,"date":"2025-01-20T15:22:34","date_gmt":"2025-01-20T19:22:34","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=102554"},"modified":"2025-01-20T15:25:47","modified_gmt":"2025-01-20T19:25:47","slug":"trump-to-approve-crypto-bank-trading","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/trump-to-approve-crypto-bank-trading\/","title":{"rendered":"Reuters: Trump Administration To Approves Crypto Bank Trading"},"content":{"rendered":"\n

Circle CEO Jeremy Allaire anticipates\u00a0Trump's executive orders will enable banks to provide crypto trading <\/a>services to\u00a0clients.<\/p>\n\n\n\n

\"Reuters:<\/figure>\n\n\n\n

Donald Trump\u2019s inauguration as the 47th President of the United States, marking the start of his second term, has generated significant anticipation within the cryptocurrency community. <\/p>\n\n\n\n

With plans to issue over 100 executive orders, many in the industry hope for major crypto policy reforms. <\/p>\n\n\n\n

Experts predict that Trump\u2019s administration may introduce changes to banking practices around crypto trading and end the controversial \u201cOperation Chokepoint 2.0.\u201d<\/p>\n\n\n\n

Trump\u2019s Crypto Policy Agenda and Executive Orders<\/h2>\n\n\n\n

In a report by Reuters\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Circle CEO Jeremy Allaire expressed confidence that Trump would unveil key executive orders shortly after taking office. <\/p>\n\n\n\n

Allaire anticipates these orders will facilitate banks in offering crypto trading services, allowing their clients to invest in and hold digital assets with greater ease.<\/p>\n\n\n\n

Among Trump\u2019s anticipated policies, Allaire is optimistic about the rejection of the SEC\u2019s Staff Accounting Bulletin 121 (SAB 121). <\/p>\n\n\n\n

According to Allaire, this bulletin made it \u201cpunitive for banks and financial institutions and corporations even to hold crypto assets on their balance sheet.\u201d <\/p>\n\n\n\n

He hopes Trump will take action to repeal it and called for Congress to introduce a comprehensive regulatory framework for cryptocurrencies.<\/p>\n\n\n\n

\u201cI\u2019m strongly in favor of repealing it, and I would hope that President Trump would take that action,\u201d stated Allaire.<\/p>\n\n\n\n

Is Trump\u2019s Re-Election an End to Operation Chokepoint 2.0?<\/h2>\n\n\n\n

\u201cOperation Chokepoint 2.0\u201d refers to the perceived government efforts to isolate the crypto industry from traditional financial institutions. <\/p>\n\n\n\n

This alleged crackdown, which intensified following the collapse of Silvergate, led to banks severing ties with crypto companies and created significant barriers for crypto trading.<\/p>\n\n\n\n

Heightened scrutiny from regulatory agencies like the SEC and FDIC further discouraged banks from engaging in crypto-related activities, prompting accusations that the government was indirectly regulating the industry. <\/p>\n\n\n\n

XRP lawyer John Deaton has urged the government to take proactive measures to end this practice.<\/p>\n\n\n\n

Many in the crypto space view Trump\u2019s administration as a potential turning point to tackle \u201cOperation Chokepoint 2.0\u201d and reintegrate crypto firms into the broader financial ecosystem.<\/p>\n\n\n\n

Overhauling Crypto Regulations and the Role of the SEC<\/h2>\n\n\n\n

Trump\u2019s plans to issue over 100 executive orders on his first day in office have fueled speculation about potential crypto reforms<\/a>. <\/p>\n\n\n\n

Notably, crypto investor and mathematician Fred Krueger predicted that Trump might announce the creation of a Bitcoin reserve on day one.<\/p>\n\n\n\n

Industry leaders also anticipate significant changes under new SEC Chair Paul Atkins. With expected clarifications on the classification of digital assets, it is believed that cases such as the Ripple-SEC lawsuit could see resolution.<\/p>\n\n\n\n

Echoing Allaire\u2019s sentiments, many in the crypto industry are hopeful that Trump\u2019s administration will pursue crypto-friendly policies that simplify trading and establish clear regulatory guidelines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Circle CEO Jeremy Allaire anticipates\u00a0Trump’s executive orders will enable banks to provide crypto trading services to\u00a0clients. Donald Trump\u2019s inauguration as the 47th President of the United States, marking the start of his second term, has generated significant anticipation within the cryptocurrency community. With plans to issue over 100 executive orders, many in the industry hope […]<\/p>\n","protected":false},"author":56,"featured_media":102556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12496,23238,23239],"class_list":["post-102554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-donald-trump-2","tag-operation-chokepoint-2-0","tag-sec-cryptocurrency-regulations"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2025\/01\/Trump-Administration-To-Approves-Crypto-Bank-Trading.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=102554"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/102554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/102556"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=102554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=102554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=102554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}