TOKYO — With U.S. President Donald Trump’s administration expected to cut red tape around cryptocurrency, the world of digital currency is going to move into the “next phase of the golden era very quickly,” said Richard Teng, CEO of Binance, the world’s largest crypto exchange.

“President Trump has announced a crypto strategic reserve, and, given the U.S. position on this, many other countries will start now looking at whether they should set up similar reserves in crypto,” Teng told Nikkei during a recent visit to Japan. “The sovereign wealth funds, the foundations, the trust institutions, the high-net-worth individuals are all going to increase allocation into this space, including corporate treasuries as well.”