Circle’s Co-Founder Calls for U.S. Registration for All Stablecoin Issuers
Jeremy Allaire, co-founder of Circle, which issues USD Coin (USDC), believes that all stablecoin providers should be required to register with U.S. authorities, regardless of their location.
Allaire emphasized that companies issuing U.S. dollar-pegged stablecoins should not be exempt from adhering to U.S. regulations, citing consumer protection as a primary concern.
He argued that companies, even if based overseas, should not be allowed to bypass U.S. laws when offering their stablecoins to U.S. consumers.
This comes amid recent developments in U.S. legislation, as representatives French Hill and Bryan Steil introduced a draft bill aimed at establishing a regulatory framework for dollar-pegged stablecoins.
READ MORE: Did Trump’s Memecoin Spark Bitcoin’s January Surge? Analyst Weighs In
Allaire’s remarks align with broader efforts from U.S. officials, including the Trump administration, to regulate stablecoins and bring them under U.S. jurisdiction.
Meanwhile, Paolo Ardoino, Tether’s co-founder, pointed out that Tether is facing mounting pressure from both competitors and political forces aiming to push it out of the market.
Tether’s regulatory struggles have been exacerbated by its exclusion from the list of firms approved to issue stablecoins under the EU’s MiCA regulations.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
