Crypto industry executives expect the U.S. to pass crypto-related legislation this year under the Trump administration.

With the return of Bitcoin supporter Donald Trump to the White House, crypto company executives are optimistic about sweeping federal rule changes for the industry that will be passed this year.

CEO of coinbaseBinance and Circle told CNBC that unlike the previous U.S. administration, which took aggressive enforcement actions against multiple large crypto companies, more clarity is needed to ensure some specific rules regarding digital assets. He said that a path is now in sight.

Brian Armstrong of Coinbase said he sees a “new day dawning” for cryptocurrencies under the Trump-led US administration.

“I remember over the last four years we really felt like we were under attack by this administration,” Armstrong told CNBC in a televised interview at the World Economic Forum’s annual event in Davos, Switzerland. I have to keep it,” he said.

“They tried to use the lack of clarity in the rules as a weapon to push back against even the best actors,” Armstrong added. “To be fair, there were some bad actors, but they were really trying to go after good actors, just like us, I think.”

Coinbase is the largest cryptocurrency trading platform in the United States. The company often promotes itself as a regulated alternative to offshore exchanges like Binance.

On Tuesday, the U.S. Securities and Exchange Commission announced the launch of a Crypto Task Force aimed at “developing a comprehensive and clear regulatory framework for cryptoassets.”

The SEC Commission is tasked with developing clear rules for the crypto sector, as well as addressing issues related to coin registration, the agency said in a statement.

Coinbase’s Armstrong said that the crypto industry’s main priority right now is working to pass legislation in the US to provide clarity.

“The industry is just getting ready for this new change,” he told CNBC. “They’re ready for clear rules, and that’s a big push for us.”

Binance CEO Richard Teng highlighted token issuance, trading, and asset management as some of the key areas he expects to see progress regarding crypto-specific legislation in the United States.

Teng said he expected “clearer regulation” in the US this year, which would be a boost for the country. Bitcoin and other digital assets.

“If you look back at past cycles, this year will be the year that the crypto industry hits all-time highs,” Teng said during a fireside discussion hosted by CNBC in Davos, Switzerland.

Bitcoin, the world’s largest cryptocurrency, topped the $100,000 price milestone for the first time last year, as traders grew more optimistic about the industry’s prospects under the Trump administration.

As of Wednesday, the token was trading at a price of around $104,000, according to CoinGecko data.

Binance’s Teng also expects the U.S. to establish a strategic Bitcoin reserve, something Trump indicated it would do during the campaign.

Jeremy Allaire, CEO of Circle, said he believes “it is wise for central banks to hold some of their reserves in something like Bitcoin,” which could lead to commodity-backed money. It added that this could lead to a return to the

“If you look back at the time when we separated from non-sovereign commodity currencies, we actually saw incredible abuses by fiat currencies around the world, and that continues today,” Allaire said. “The majority of governments in the world are deeply in debt.”

“In places like Argentina, it took some kind of open-heart surgery or shock therapy to break out of this cycle, and I respect that this is an important topic for the U.S. government right now,” he said. added.

President Trump has previously suggested that the U.S. national Bitcoin reserve could be backed by crypto assets seized by criminal activities such as hackers and fraud organizations.

In addition to a pro-crypto president, the United States now has senators and congressmen who support crypto technology and want to see regulation, which is “totally appropriate,” Allaire said. emphasized.

Allaire pointed out that there are already “American champions” in the crypto space, including Circle, Coinbase, and blockchain platform Solana. “I think it’s very likely that under this new administration there will be rapid progress in rule-making and policy-making to develop this industry,” he said.

Circle’s CEO sees the U.S. moving forward with legislation, especially around so-called stablecoins (digital tokens designed to be pegged to real-world assets like the dollar). That’s because there is already bipartisan support in Congress for such a token. the circle is in the back USDCone of the largest stablecoins.

The Payment Clarification Stablecoin Act, which aims to establish a regulatory regime for licensing stablecoin issuers, has been moving through Congress since before last year’s election. It has not yet passed a vote in the House of Representatives.