Wednesday was an important day for the cryptocurrency industry as senior members and executives in the cryptocurrency community met with the US Congress to discuss the crypto industry.
CEOs of famous crypto money platforms Bitfury, Circle, FTX, Coinbase, Stellar and Paxos attended the Congress.
At the congress meeting, which lasted about five hours, all CEOs made similar speeches, considering that “the adoption rates of crypto assets are constantly increasing and it would not be wise for Congress to turn a blind eye to the growing crypto ecosystem”.
Circle CEO Jeremy Allaire argued that the broad use of stablecoins in the US could give the US a significant advantage in building the financial system of the future.
“Stablecoins and internet-based capital markets are not too big to fail, but they are now too big to be ignored.”
Stating that the US has surpassed China, one of the world’s largest economic powers in stablecoin transactions, Circle CEO underlined that we need clearer regulatory rules for the US to continue this success in stablecoins.
“This is very important and rapid growth worldwide. It has the potential to greatly benefit the US dollar and its businesses.
I think the development of stablecoins is a national security and economic priority for the US, and we need to start right now.
Because the USA and the US dollar are winning the digital currency space race today.”
The famous CEOs who attended the meeting of great importance finally added that the crypto industry is not the “wild west” as the SEC thinks.
*Not investment advice.