Circle’s Director of Global Policy Dante Disparte said that the role of stablecoins will change in the near future – stablecoins could become the main means of payment in the world.

Dante Disparte said that organizations specializing in online payments and various financial services will enter the stablecoin sector en masse.

“Circle believes that stablecoins will become the main money of the internet era. This asset class has every chance of dominating the international financial system,” he said.

According to the top manager, effective and fair regulation is necessary for the further development of the stablecoin segment. All companies issuing stablecoins must comply with the basic principles of combating money laundering. Disparte also pointed out the need for the earliest possible adoption of a law on stablecoins in the United States.

“The big question now is whether the United States will finally adopt federal regulations for stablecoins or maintain a status quo of uncertainty that politicians from both US political parties agree is unacceptable.”

According to the expert, the lack of a law on stablecoins is a threat to the US financial system, and there is a risk of the emergence of products that will exploit confidence in the dollar.

Congressman John Rose, who previously served on the House Financial Services Committee, introduced a bill that would create an advisory committee where financial regulators would discuss rules for overseeing cryptocurrencies.