Jeremy Allaire said it is time for the United States authorities to develop global crypto regulations that will have a significant impact not only on the digital industry, but also on the competitiveness of the dollar in the coming decades.
The businessman urged legislators to create regulations for federal control over compliance with standards for issuers of stablecoins, the introduction of rules for keeping stablecoins on the balance sheets of companies certified by regulators, as well as regulations guaranteeing easier access to the services of the accounts of the Federal Reserve System.
In addition, Aller suggested using the methods of criminal practice when passing judgments on the administrations of companies involved in the issuance of counterfeit stablecoins and digital dollars.
Earlier, the CEO of Circle said that the banking crisis and the problems of regulation of the crypto industry in the US were the main negative factors that led to the decline in the market capitalization of USDC.
Source: Bits
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