- Stablecoin legislation and digitizing the US dollar have become crucial in countering global de-dollarization.
- The Circle CEO, Jeremy Allaire, has urged Congress and the Federal Reserve to act immediately.
- Integrating the digital dollar into core systems has been deemed essential for the US to remain competitive.
According to Jeremy Allaire, the CEO of Circle, stablecoin legislation and digitization of the U.S. dollar are crucial to counteract the “very active de-dollarization taking place” globally.
At the Consensus 2023 conference on April 26, Allaire emphasized the urgent need for Congress and the Federal Reserve to prevent alternative currencies and payment systems from undermining the dollar’s dominance.
Circle CEO Sees Demand for Digital Dollars Globally
Allaire pointed out that the recent U.S. banking crisis has triggered significant reactions to U.S. risks in the banking system and…
