Circle’s announcement follows an appearance from the company’s CEO, Jeremy Allaire, on the cover of Forbes Magazine. An article, titled “Circle Begs Congress: Please Regulate Us,” explores how stablecoin legislation in the U.S. could impact Circle’s standing. Circle told Decrypt that legislation on stablecoins is necessary to prevents similar incidents in the future. “Comprehensive payment stablecoin legislation will help restore confidence in both the US dollar and dollar digital assets,” the spokesperson said. Circle has been one of several stablecoin issuers lobbying on Capital Hill as two potential stablecoin bills work their way through the legislative process.

Source: Forbes June 09, 2023 06:42 UTC