Circle CEO Calls for Mandatory US Registration for Stablecoin Issuers
Jeremy Allaire, co-founder of Circle—the company behind USD Coin (USDC), the world’s second-largest stablecoin—has called for all issuers of US dollar-backed stablecoins to register with US authorities, regardless of their physical location.
In an interview with Bloomberg, Allaire emphasized the importance of regulatory oversight, arguing that stablecoin issuers should not be allowed to bypass US laws while offering dollar-denominated digital assets to American consumers.
“Whether you’re based offshore or in Hong Kong, if you want to offer your US dollar stablecoin in the United States, you should be required to register—just as we have to register in other jurisdictions,” Allaire stated.
His remarks come as US lawmakers introduce new legislation aimed at regulating stablecoins. Representatives French Hill and Bryan Steil recently unveiled a draft bill outlining a regulatory framework for dollar-pegged payment stablecoins in the US.
The push for regulation aligns with the Trump administration’s stance on bringing stablecoins under US oversight. David Sacks, President Trump’s crypto advisor, has voiced support for stablecoins, stating they could strengthen the dollar’s global dominance.
Meanwhile, the co-founder of Tether (USDt), the world’s largest stablecoin issuer, has acknowledged mounting pressure from both competitors and policymakers seeking to challenge Tether’s position in the market.
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