Circle CEO Jeremy Allaire stated that positive steps may come from the USA regarding stablecoin laws in 2024.
The world’s second largest stablecoin USD Coin (USD) Positive statements came from the issuer Circle. Switzerland on the subject Davos Speaking to CNBC at the World Economic Forum in CEO Jeremy Allaire2024 is likely the year for the US stablecoin industry It will be the year when concrete laws are passed told.
Stablecoins, which quickly became the building blocks of the cryptocurrency market, are approximately A market worth 135 billion dollars hosts, but there is still no development in this field in pioneering countries such as the USA. There is no regulatory clarity.
Jeremy Allaire stated in his statement on the subject that other countries in the world have already taken action on this issue and To maintain US leadership He stated that he could take clear steps this year:
I think there is fundamentally certainly a desire for regulation from both sides of the government, the Fed, and Congress. Digital dollars are becoming widespread around the world, with other governments regulating dollar-digital currencies before the United States. So I think there’s a very strong desire to assert U.S. leadership and provide the right consumer protections.
As USDC CEO stated, global interest and regulatory steps towards stablecoins have accelerated recently. Recently introduced by the company in the reportespecially Asia-based transactions increased emphasized.
According to the report, to Asia in 2022 USDC worth $130 billion was at the center of the transfers. However, the Asia-Pacific region accounts for all global cryptocurrency volume. to 29% North America by hosting 19% and Western Europe 22% overshadowed his share.
USA recently spot Bitcoin exchange-traded fund (ETF) Although it gives mass approval to its applications, it continues to experience serious problems regarding stablecoins. The US House of Representatives Financial Services Committee voted on a bill covering stablecoins last summer. delay decision had taken it.