Circle CEO Calls for US Registration of Stablecoin Issuers

Jeremy Allaire, CEO of Circle, is advocating for mandatory registration of all US dollar-pegged stablecoin issuers in the United States, emphasizing the need for consumer protection and financial integrity. His comments highlight the increasing regulatory scrutiny surrounding stablecoins as the Trump administration prepares to consider legislation on this issue, spearheaded by Senator Bill Hagerty. Allaire believes that companies operating offshore should not be exempt from US laws when offering stablecoins to American consumers. This call for regulation comes as Tether, the largest stablecoin issuer, has moved its headquarters to El Salvador, raising concerns about transparency and compliance. The ongoing discussions suggest a significant shift towards stricter oversight in the stablecoin market, which plays a crucial role in bridging crypto and traditional finance. Tether's CEO, Paolo Ardoino, has responded to speculation about competitive influences on US regulations, hinting at efforts by rival companies to shape the regulatory landscape in their favor.