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The US should execute stablecoin regulation and digitize the U.S. dollar to moderate the extremely dynamic de-dollarization occurring all over the planet at the present time, says Jeremy Allaire, the CE of stablecoin guarantor Circle.
Stablecoin backer urges U.S. central bank to act: 'urgently'
In light of the current banking crisis in the United States, Allaire made remarks at the Consensus 2023 conference. The President of Circle, the stablecoin backer behind USD Coin alled on Congress and the Central bank to make a move. [embed]https://twitter.com/jerallaire/status/1651182635970883589[/embed]
Circ Circle launches Cross-Chain Transfer Protocol as it Ponders US
According to Allaire, this will be a "giant missed opportunity" for the nation if the U.S. government does not get its act together. The call for activity comes as the Chinese yuan overwhelmed the dollar for cross-line exchanges in China without precedent for Spring, as per Reuters. With the launch of USDC on Cross-Chain Transfer Protocol, Circle has recently taken some responsibility into its own hands. Since the company began minting and issuing USDC in 2017, Allaire described the new solution as the "most important new piece of blockchain infrastructure."