Circle CEO Jeremy Allaire Advocates U.S. Registration for Dollar-Backed Stablecoins
Jeremy Allaire, CEO of Circle, advocates for U.S. registration of companies issuing dollar-pegged digital tokens. Key points include:
- Stablecoin issuers should comply with U.S. laws to avoid regulatory evasion.
- Circle’s USDC is the second-largest dollar-backed stablecoin, behind Tether's USDT.
- President Trump's administration emphasized a crypto-friendly regulatory framework.
- Senator Bill Hagerty introduced a bill for oversight of dollar-backed stablecoins.
- Allaire asserts that offshore companies must register if offering stablecoins in the U.S.
- Dante Disparte, Circle's Chief Strategy Officer, supports leveling the playing field for all stablecoin issuers.
- The stablecoin market cap totals $232 billion and supports cryptocurrency trading and international transfers.
- PayPal plans to expand its PYUSD stablecoin integration into more products.