Circle CEO Jeremy Allaire published a blog post on June 12 of testimony he plans to present to Congress regarding the design of stablecoin regulation.
Those comments relate to the hearing scheduled for June 13 entitled “The Future of Digital Assets: Bringing Clarity to the Digital Asset Ecosystem.”:
Allaire said in his prepared remarks:
“The stablecoin bill is a crucial piece of legislation that should be the first step in creating a regulatory framework that creates the conditions for a vibrant and secure digital asset market.”
Allaire said that if the stablecoin account becomes law, it will allow access to the US dollar while also ensuring security and enabling competition.
Circle issues USDC, the second largest stablecoin by market capitalization.
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