Circle CEO pushes for U.S. oversight of Tether’s USDT

Jeremy Allaire, co-founder of Circle, said he believes stablecoin issuers worldwide should be required to register with US authorities, regardless of where they operate.

Allaire argued that firms issuing US dollar-pegged stablecoins, like Circle’s USD Coin, should not be allowed to bypass American regulations while still serving US customers.

Allaire’s comments come as US lawmakers, led by representatives French Hill and Bryan Steil, introduced a bill aiming to establish a formal regulatory framework for payment stablecoins. The Trump administration also has plans to regulate stablecoins, with Crypto Czar David Sacks suggesting that bringing these assets under US oversight could strengthen the dollar’s global influence.

Allaire pointed to the repeal of the SEC’s Staff Accounting Bulletin 121, which he described as a major barrier for banks and corporations looking to hold crypto assets. “That’s something I think to watch closely in terms of EOs,” Allaire said, adding that Circle already works with banks as commercial partners.