Circle Jeremy Allaire Releases Terrifying Warning About US Dollar Supremacy

Circle Jeremy Allaire has just released a warning about the supremacy of the US dollar. Check out what he had to say below.

Circle CEO Jeremy Allaire said not too long ago that a proposed legislation to create a regulatory framework for stablecoins marks a pivotal moment for the US dollar.

The draft stablecoin billwill be discussed during the House Committee on Financial Services hearing on April 19th.

It’s also iomp[ortant to note the fact that this bill proposes the qualifications and requirements to be a payment stablecoin issuer in the US and details the criminal penalties for violators.

The bill also requests the research and exploration of a central bank digital currency (CBDC).

He also made sure to note the fact that the bill has potentially extraordinary implications on the US dollar and digital currencies in general.

He explained the fact that the rUS dollar’s role is now at stake if stablecoin regulation isn’t done right.

“It’s an extraordinary moment for the future of the dollar in the world, and the future of currency on the internet. There is clearly the need for deep, bi-partisan support for laws that ensure that digital dollars on the internet are safely issued, backed and operated…”

He continued and said the following:

3/ Currency competition is heating up, and the playing field in this digital currency space race is moving extremely fast. It’s time for US leadership, and that means clear regulation and empowering entrepreneurship and innovation within the framework of US prudential law.

— Jeremy Allaire (@jerallaire) April 15, 2023

He also talked about the massively challenging issues that come with this bill and stated that now is the time when the US and its leaders have to get things done right.

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