According to Jeremy Allaire, the founder and CEO of Circle, there is a high likelihood of implementing global regulations for stablecoins in 2024.
He believes the United States will take the lead in proposing regulations for the segment, as part of their broader efforts to regulate cryptocurrencies and protect investors.
Allaire also stated that the recent bankruptcies and legal issues with other companies in the industry, such as FTX and Binance, will not affect the implementation of regulations for stablecoins.
He added that his company is focused on introducing blockchain-related innovations and compared the current state of the cryptocurrency industry to the early stages of the boom in technology companies in the 1990s.
When asked about the company’s plans for an IPO, Allaire declined to comment, citing obligations to the regulator. It is unclear if Circle’s recent filing with the SEC was in response to the approval of spot Bitcoin ETFs.
