Circle (USDC CEO) Talks ‘Anxiety’ About US Crypto Regulation
Circle USDC Coin: The US administration is not able to provide a clear and concise view despite increasing regulatory pressures around the crypto market. This is despite a growing interest from new entrants to the cryptocurrency ecosystem, both in the US and globally. This is causing fear and uncertainty among crypto experts in the country, who fear that the US may miss the opportunity to be a major crypto hub. But, unlike its dominance in the financial markets, the decentralized nature cryptocurrencies makes it easier for other countries to adopt them.
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Jeremy Allaire, co-founder and chief operating officer of Circle, which is behind USDC stablecoin (and the company behind it), shared the sentiments expressed in the US market regarding crypto regulation. He spoke to CNBC on Friday about the anxiety surrounding the rules. Allaire also highlighted the advantages of digital assets, which are global in nature and attract interest worldwide. The Circle CEO explained that several countries in Asia and the European Union have expanded their regulatory guidelines for crypto industry. He also made the following comment:
“The United States is the last to act on legislation.”
According to the CEO, the current macroeconomic situation with rising interest rates and the lure of having a currency that is independent from governments fuels the demand for crypto. The stock markets suffered a massive decline due to the stronger than expected Personal Consumption Expectations (PCE) numbers.
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