Circle CEO Jeremy Allaire thinks Congress will focus on stablecoin regulation.
Answering CoinDesk’s questions at the World Economic Forum held in Davos, Allaire drew attention to the stablecoin’s growth potential.
Circle CEO, Awaiting Regulation
Circle is the company that is the issuer of the USDC stablecoin with a supply of 43 billion. USDC is the second largest stablecoin, according to CoinMarketCap data.
Allaire said that USDC is a prime example of how stablecoin usage is increasing. According to him, officials in the US and abroad are starting to realize the benefits that stablecoins can provide.
Going further, Allaire claimed that stablecoins “will normalize in almost every major market.”
According to Allaire, it’s next for authorities around the world to lead regulatory efforts to take a firmer position on stablecoins.
Allaire noted that the biggest reason his company has existed for the past ten years has been his work with regulators. Circle CEO said they always aim to be honest with regulators.