U.S. Stablecoin Issuers Urged for Registration by Circle CEO
Let's Talk Stablecoins: The Pressing Need for Regulation
Jeremy Allaire, the brainchild behind Circle, has no qualms about raising a stink. In a candid chat with Bloomberg, he declared that it's high time the U.S. mandated registration for stablecoin issuers operating in the states.
Allaire's beef? Current regulations lack bite, creating a wild west scenario where unscrupulous companies skirt U.S. laws with impunity. His demand? A level playing field for all players in this booming market. He pointed out, "This is about safeguarding consumer rights and preserving financial integrity. And let's be clear, the stablecoin bill is a top priority for the administration."
On February 4, Senator Bill Hagerty proposed a regulatory framework for stablecoin issuers, a move firmly backed by Circle's Chief Strategy Officer, Dante Disparte. In a statement to CoinDesk, Disparte echoed Allaire's sentiments, stating that "no company issuing dollar-backed stablecoins should be exempt from security and reliability rules or be left without proper government oversight."
Now, you might wonder about the current state of regulation. As of now, no concrete legislation has been passed to enforce registration for U.S. dollar stablecoin issuers. However, the future looks promising. The Genius Act of 2025, a bill designed to regulate stablecoins, has made notable strides in the Senate. In May 2025, the Senate voted to advance a modified version of the Genius Act, which includes provisions for regulating stablecoin issuers[2][3].
The House of Representatives is also in on the action, with its own stablecoin bill, the STABLE Act. This act, which focuses on regulating payment stablecoins, received bipartisan support early in 2025[5]. The paths forward involve either the House adopting the Senate's Genius Act or harmonizing it with the STABLE Act in a conference committee. Players in the crypto industry, like Allaire and Disparte, are keeping a close eye on these developments, as they have the potential to revolutionize the regulatory landscape for stablecoin issuers in the U.S.
So, grab your popcorn and settle in, folks. This regulatory rodeo is about to get interesting.
The finance industry, with stablecoin issuers at its forefront, is seeking clarity in business regulations, particularly technology-related, as they strive for a level playing field. The Genius Act of 2025 proposes to regulate stablecoins, marking a significant step towards technology-driven financial regulations in the U.S.
