The founder and CEO of Circle, Jeremy Allaire, stated in an interview with Bloomberg that there is a need for mandatory registration for U.S. dollar stablecoin issuers in the U.S.

He explained that the lack of such requirements creates an unfair environment and allows companies to avoid U.S. laws. Allaire emphasized that the rules should be the same for all market participants.

“This is about protecting consumer rights and financial integrity. […] The stablecoin bill is a top priority for the administration,” Allaire explained.

On February 4, Senator Bill Hagerty introduced a proposal for creating a regulatory framework for stablecoin issuers.

Circle’s Chief Strategy Officer and Head of Global Policy and Operations, Dante Disparte, supported Allaire’s comments. In a statement to CoinDesk, he emphasized that “no company issuing dollar-backed stablecoins should be given a free pass from security and reliability rules and appropriate government oversight.”

As a reminder, in July 2024, Circle received the right to issue stablecoins in the European Economic Area under the MiCA regulations.