PANews reported on January 21 that according to Reuters, Circle CEO Jeremy Allaire expects US President Donald Trump to issue executive orders "soon", which he said may allow banks to trade cryptocurrencies, offer cryptocurrency investments to high-net-worth clients, and include them in their investment portfolios.

Allaire said he would like to see the repeal of the SEC’s Staff Accounting Bulletin 121, which he believes “actually imposes punitive restrictions on banks, financial institutions and even corporations holding crypto assets on their balance sheets.” Allaire expects Congress to rekindle action on digital asset regulation, adding: “We expect the work of the Commission to be very active, almost in the coming weeks.”

Additionally, Coinbase Chief Policy Officer Faryar Shirzad said: “We expect the new SEC to take action, which will almost certainly allow banks to enter the custody space more.”