CIRCLE CEO CALLS FOR DOLLAR-BACKED STABLECOIN ISSUERS TO REGISTER AND OPERATE IN THE UNITED STATES

- Jeremy Allaire, the co-founder and CEO of @Circle, believes that companies creating digital tokens tied to the U.S. dollar should be registered in the United States.

- In a recent interview with Bloomberg, Allaire argues that these companies shouldn’t be able to skip U.S. laws just because they operate elsewhere.

Key Details:

- Allaire thinks that registration in the United States should be required if these firms want to offer their products and services to American users;

- “It shouldn’t be a free pass, right?” Allaire said in an interview with Bloomberg. “Where you can just ignore the U.S. law and go do whatever the hell you want wherever and sell into the United States.”

- This notion comes at a time when stablecoins, worth a total of $232 billion, play a massive role in crypto trading and global money transfers.

- He emphasized that location shouldn't matter when it comes to following the U.S. rules, “Whether you’re an offshore company or based in Hong Kong, if you want to offer your dollar stablecoin in the U.S., you should need to register in the U.S. just like we have to go register everywhere else.”

- In a nutshell, Allaire agrees that registering in the U.S. would make the stablecoin market fairer and wants every company to follow the same standards Circle has set, ensuring trust and stability in the industry.

[Image obtained from Jeremy Allaire and Circle X accounts]