Jeremy Allaire, founder and CEO of Circle, stated in an interview with Bloomberg the necessity for mandatory registration of dollar stablecoin issuers in the United States.
He argued that the absence of such requirements creates unfair conditions and allows companies to circumvent American laws. Allaire emphasized that rules should be uniform for all market participants.
“This is about consumer protection and financial integrity. […] The stablecoin bill is a top priority for the administration,” Allaire explained.
On February 4, Senator Bill Hagerty introduced a proposal to establish a regulatory framework for stablecoin issuers.
Circle’s Chief Strategy Officer and Head of Global Policy and Operations, Dante Disparte, supported Allaire’s comments. In a statement to CoinDesk, he stressed that “no company issuing dollar stablecoins should receive a free pass from rules of safety, soundness, and appropriate government oversight.”
Back in July 2024, Circle obtained the right to issue stablecoins in the European Economic Area under MiCA regulations.