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According to information obtained by the Wise Finance app, Jeremy Allaire, the CEO of stablecoin company Circle, stated on Monday that it is highly likely that the United States will pass stablecoin legislation this year. Circle is the operating company behind the stablecoin USDC, controlling the issuance and governance of USDC. USDC is a stablecoin pegged 1:1 to the US dollar.
The market value of stablecoins is as high as $135.3 billion, but they are largely unregulated. While jurisdictions around the world are approving new cryptocurrency laws, the United States has not yet passed federal cryptocurrency regulations.
Allaire hopes that the situation will change this year, stating that it is "quite likely" that the US Congress will approve stablecoin legislation.
Speaking at the World Economic Forum held in Davos, Switzerland, Allaire noted that regulatory developments in the crypto industry are accelerating globally, and the United States is more likely than before to pass stablecoin legislation.
He said, "Digital dollars are happening all over the world, and other jurisdictions started regulating digital currencies tied to the US dollar before the United States. So, I think there's a very strong desire to take action, maintain US leadership, and take the right consumer protection measures." |
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Post time 29-1-2024 12:59:37