<\/p>\n
Circle CEO Jeremy Allaire says that the United States will eventually pass legislation to regulate stablecoins and bring regulatory clarity to the crypto industry.<\/p>\n
In a new interview on the Unchained Podcast with Laura Shin, Allaire says<\/a> that the ongoing debate on how to regulate stablecoins will likely result in a win for the digital assets industry.<\/p>\n \u201cI\u2019ll be a little bit of a broken record on the stablecoin issue, which is just that we have a moment, it\u2019s a here-and-now moment. There\u2019s a dollar competitiveness issue. There\u2019s a national competitiveness issue. There\u2019s an industry and market competitiveness issue. And while it\u2019s very easy to look at the people who\u2019ve committed fraud or the companies that have run Ponzi schemes or the people who have been bad actors and say it\u2019s all crap, that is just not the case. <\/em><\/p>\n And so we\u2019re right on the cusp of, I think, a very strong framework that would be very powerful for the US, the US dollar, for industry, competitiveness, etc. So that I feel strongly about.\u201d <\/em><\/p>\n The CEO also says that policymakers should take a broader view of blockchain technology when drafting regulations and not just focus on its financial technology use.<\/p>\n \u201cBlockchain technology is colored through the lens as a financial technology. And I think it\u2019s really important that policymakers understand that we\u2019re talking about general purpose internet infrastructure, general purpose internet computing infrastructure, data infrastructure. It\u2019s really important to a huge array of industries and categories. How we treat that infrastructure, it needs to be independent of just saying this is a financial regulatory matter. Because it\u2019s actually not. It\u2019s really about a next layer of the internet. <\/em><\/p>\n And so I find sometimes that the policies that are being considered are kind of marshaling everything into a financial regulatory lens. That is not a good position. I don\u2019t think it\u2019s accurate. It really just requires more understanding. And so I would encourage policymakers and their staff to really get a better understanding of, let\u2019s just call it the computer science of this network technology and what that is, because that\u2019s really where so much value will come.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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