The stablecoin market, valued at $232 billion, plays a crucial role in cryptocurrency trading and international money transfers. Jeremy Allaire, CEO of Circle, argues that companies issuing dollar-backed stablecoins should register in the U.S. to comply with local laws. Circle’s USDC is the second-largest stablecoin by market cap, behind Tether’s USDT. In February, Senator Bill Hagerty introduced a bill to establish a regulatory framework for these digital tokens. Allaire emphasizes that registration should be mandatory for all issuers, regardless of their location, to ensure a level playing field. PayPal, with its PYUSD stablecoin ranked 10th by market cap, plans to expand its stablecoin offerings. The debate continues on whether all stablecoin issuers should adhere to U.S. regulations for safety and soundness.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
