Circle CEO, Jeremy Allaire, reports to the U.S. Securities and Exchange Commission ( SEC) criticized.
Circle CEO Jeremy Allaire said the SEC is not the right institution to regulate stablecoins. Circle recently had a headache with its own stablecoin.
Circle CEO Jeremy Allaire Doesn’t Think The SEC Is The Right Entity
with a volume of 42 billion dollars USDCThe CEO of Circle, the maker of . SECmade statements regarding
Stablecoins have faced massive questioning and pressure from regulators, especially after the collapse of Terra’s algorithmic stablecoin UST in 2022.
Stablecoins are cryptocurrencies that are essentially indexed to an asset to facilitate users’ trading.
Allaire, BloombergIn an interview with , he made the following statements:
“I don’t think the SEC is the right regulator for stablecoins.”
The SEC began to increase its pressure on the industry after the collapse of the UST. The SEC has made some transactions on some cryptocurrencies recently.
Allaire added:
“As we said before, not all stablecoins are created equal. But from a political perspective, there is only one view that they are all the same.”
