Jeremy Allaire, CEO of Circle, Proposes That All Stablecoins Be Registered in the US! Here's Why

Jeremy Allaire, CEO and co-founder of Circle**, argues that compliance should not be optional for companies operating in the U.S. market, calling for all companies issuing dollar-backed stablecoins to register in the U.S.

Circle CEO Jeremy Allaire Printing Dollar-Backed Stablecoins for Registration in the US

Circle is the issuer of USDC, the second largest dollar-pegged stablecoin by market capitalization after Tether's USDT. With a total market capitalization of 232 billion dollars, the stablecoin industry plays a critical role in cryptocurrency trading and international money transfers.

Stablecoins have become a significant focal point for US policymakers in recent months. In January, President Donald Trump issued an executive order urging for a clearer crypto regulatory framework.

In February, Senator Bill Hagerty (R-TN), introduced a stablecoin oversight bill aiming to establish regulatory standards for USD-backed stablecoins.

Allaire believes that offshore companies offering dollar-backed stablecoins should be subject to the same regulatory standards as U.S.-based firms. "Whether you're an offshore company or based in Hong Kong, if you want to offer your dollar stablecoin in the U.S., you need to register in the U.S., just like we have to register everywhere," he said.

These views were also echoed by Circle's Chief Strategy Officer, Dante Disparte. In a statement to CoinDesk, he emphasized that issuers of stablecoins must compete on a level playing field under the oversight of US regulators.