U.S. Stablecoin Issuers Called for Registration by Circle's CEO
Jeremy Allaire, Circle's CEO, calls for mandatory registration for U.S. dollar stablecoin issuers
Jeremy Allaire, the brains behind Circle, pulled no punches in a candid interview with Bloomberg. He spoke out about the urgent need for U.S. stablecoin issuers to register their operations. According to Allaire, the absence of such regulations has fostered an unjust environment, enabling companies to dodge U.S. laws with ease. He emphasized that it's essential to establish a level playing field for all market participants.
"It's all about safeguarding consumer rights and upholding financial integrity. [...] The stablecoin bill is a must-have on the administration's to-do list," Allaire stated.
Senator Bill Hagerty took a bold step on February 4 by introducing a bill to establish a regulatory framework for stablecoin issuers.
Dante Disparte, Circle's right-hand man, seconded Allaire's sentiments in a statement to CoinDesk. He made it clear that no entity peddling dollar-tied stablecoins should skirt the rules governing safety, reliability, and government oversight.
It's worth mentioning that last July, Circle bagged the green light to churn out stablecoins in the European Economic Area under MiCA (Markets in Crypto-Assets) regulations.
Now, let's delve deeper into the U.S. regulatory landscape for stablecoin issuers. The GENIUS Act, or the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 Act, and the STABLE Act are leading the charge to draw up a clear legal framework. These bills demand stablecoin issuers to maintain one-to-one reserves, conduct regular audits, and adhere to transparency and consumer protection rules. The GENIUS Act permits issuers to operate under either federal or state supervision, and it clarifies that stablecoins should not be classified as securities[5].
In June 2025, Senate Majority Leader John Thune took the reins to push for the GENIUS Act, signaling robust support in the Senate for advancing stablecoin regulation[2]. As for the STABLE Act, it shares the same objectives and is also under consideration by Congress, with both bills serving as catalysts to bring clarity to the stablecoin market[5][3].
The regulatory process hasn't been a walk in the park, though. Congress had aimed to give the green light to stablecoin regulations by Memorial Day but missed the mark. The journey is far from over, with active debate continuing in both chambers[2][4].
Key figures championing the cause include Senate Majority Leader John Thune, bipartisan lawmakers, and influential stakeholders within the financial industry[2][5][4]. All these parties recognize the significance of clear regulations for the nation's security and economic prosperity.
In the context of their call for mandatory registration, Jeremy Allaire and Dante Disparte at Circle emphasize the importance of integrating financial technology into the stablecoin industry, ensuring corporate compliance with safety, reliability, and government oversight in business dealings. The ongoing debates in Congress around the GENIUS Act and STABLE Act aim to establish a legal framework for stablecoin issuers which includes maintaining reserves, regular audits, and adherence to transparency and consumer protection rules.
