[Circle predicts that stablecoins will become the world’s mainstream payment method]
Circle is confident that stablecoins will become mainstream currencies and emphasizes that relevant regulations should be harmonized globally to ensure that payment stablecoin issuers comply with regulations. Circle chief strategy officer Dante Disparte said in an interview that stablecoins will exist for a long time and expects more companies to enter the industry.
However, Disparte believes it is equally important to harmonize global regulations, particularly when it comes to reserve management and combating financial crime. He emphasized that the lack of a stable currency regulatory framework in the United States will threaten its national interests and may become a safe haven for illegal actors. Therefore, the enactment of the federal stablecoin bill is crucial to ensuring the security of market payments.
In July 2023, progress was made on the stablecoin bill advancing in the House of Representatives, with Disparte calling for bipartisanship to pass the bill and have it signed by the president. He pointed out that U.S. regulations should apply to all issuers and be consistent with international norms, such as relevant laws of the European Union and the United Arab Emirates. Circle has become the first global stablecoin issuer to comply with the EU’s Crypto-Asset Market Regulation.
