Circle: stable coins will become the main means of payment in the world
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Johny Smith
2024/10/17
3 mins read
Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparante, was interviewed by Cointelegraph. She expressed confidence that in the future, stablecoins will become a key form of money in the world. The specialist also emphasized that for this it is necessary to create a competent legal framework.
Dante Disparante’s comments come as Circle aims to open a headquarters in New York early next year. Approximately this will happen after the organization carries out the IPO stage. Earlier, the specialist noted that the American structure authorizes supervisory authorities to regulate the financial environment at the legislative level.
“The key question now remains whether US legislators will adopt federal rules for oversight of the stable coin segment,” Dante Disparante emphasized. She believes that the lack of a sane regulatory framework for stablecoins pegged to the US dollar primarily contradicts American interests.
This flaw could create a vacuum in which products will be created that negatively affect confidence in the US dollar. It will also contribute to the creation of tools that will allow people to circumvent US sanctions restrictions or conduct illegal activities.
The specialist emphasized that federal legislation on stablecoins will be key to the formation of sustainable competition. It will also provide security for both institutional and retail trading participants. In conclusion, Disparante said that the bill from the Financial Services Committee provided strong momentum on this issue and provoked active discussion about it. But it requires Congressional approval to take effect.
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