Circle CEO Jeremy Allaire insists that all US dollar-backed stablecoin issuers, regardless of their location, must register with US authorities to ensure consumer protection and market fairness. He argues that offshore firms targeting the US market should comply with US regulations.In related developments, US lawmakers have proposed a bill to establish a regulatory framework for stablecoins, while Tether faces increasing scrutiny and was excluded from the EU’s MiCA stablecoin list, impacting major exchanges like Kraken and Crypto.com.
about Stablecoin Issuers Urged to Register in the US Amid Regulatory ChangesAllaire
0 posts last weekKlarna CEO Plans to Embrace Cryptocurrency Amid Competitive Landscape
Klarna’s CEO, Sebastian Siemiatkowski, announced the company’s intention to “embrace crypto,” seeking input from followers as it prepares for a US IPO. This shift comes as Klarna aims to catch up with competitors like PayPal and Revolut, which already offer extensive cryptocurrency services. Siemiatkowski’s change in perspective on crypto contrasts sharply with his previous criticisms, highlighting a newfound enthusiasm for the industry.
about Klarna CEO Plans to Embrace Cryptocurrency Amid Competitive LandscapeCircle CEO Calls for Repeal of Crypto Regulations Under Trump Administration
Circle CEO Jeremy Allaire has urged the Trump administration to repeal the SEC’s Staff Accounting Bulletin (SAB) 121, which he claims hinders cryptocurrency adoption by classifying digital assets held for others as liabilities. Despite Congress’s attempt to repeal the regulation, it remains in place after a veto by President Biden. While the new administration has yet to announce any crypto-related actions, the industry remains hopeful for a more favorable regulatory environment.
about Circle CEO Calls for Repeal of Crypto Regulations Under Trump AdministrationCircle acquires Hashnote and partners with DRW to enhance USDC liquidity
Circle has acquired Hashnote, the issuer of the USYC token, and partnered with DRW Cumberland to enhance liquidity for USYC and USD Coin (USDC) in both crypto and traditional markets. This integration aims to position USYC as a leading yield-bearing collateral, while Circle also announced the issuance of native USDC on the Canton blockchain, which supports over $3.6 trillion in tokenized real-world assets. Despite USDC’s growth, it still trails behind Tether (USDT), which holds a market dominance with a supply of nearly $141 billion compared to USDC’s $44.6 billion.
about Circle acquires Hashnote and partners with DRW to enhance USDC liquidityCircle CEO criticizes SEC rule hindering crypto adoption in banking sector
Circle’s CEO Jeremy Allaire criticized SEC regulations, particularly Staff Accounting Bulletin 121, for hindering banks’ adoption of cryptocurrency by imposing financial burdens. He called for the rule’s repeal, hoping for intervention from President Trump, who has previously supported crypto innovation. Industry leaders, including Coinbase’s Faryar Shirzad, echoed Allaire’s concerns, emphasizing the need for a regulatory framework that fosters digital asset integration while ensuring financial system stability.
about Circle CEO criticizes SEC rule hindering crypto adoption in banking sectorCircle CEO Advocates for Trump to Repeal SAB 121 for Crypto Growth
Circle CEO Jeremy Allaire expressed strong support for potential executive orders from President Trump aimed at easing restrictions on banks holding digital assets, particularly in relation to the controversial SAB 121. This framework has been criticized for hindering the adoption of cryptocurrencies by making it difficult for financial institutions to include them on their balance sheets. Despite the House’s attempt to overturn SAB 121, President Biden vetoed the resolution, citing consumer protection concerns.
about Circle CEO Advocates for Trump to Repeal SAB 121 for Crypto GrowthCircle donates to Trump’s inaugural committee alongside major tech firms
Circle has donated 1 million USDC to President-elect Donald Trump’s inaugural committee, joining Ripple, Coinbase, and Kraken in support. The Trump-Vance Inaugural Committee aims to raise $150 million for inauguration events, with contributions already surpassing this goal. Trump’s inauguration is scheduled for January 20, 2025, at the US Capitol, and the incoming administration is expected to create a more favorable regulatory environment for crypto assets.
about Circle donates to Trump's inaugural committee alongside major tech firms