Circle CEO Jeremy Allaire is advocating for stricter regulations on stablecoin issuers within the US by proposing mandatory registration. He believes this will enhance consumer protection and financial stability, as regulatory clarity is needed amidst growing discussions about digital currencies in the US. Tether, the largest stablecoin issuer, faces scrutiny from regulators as a result of these discussions, potentially facing challenges under stricter regulations. The Federal Reserve (Fed), alongside other authorities like the Commodity Futures Trading Commission (CFTC) are developing proposals with bipartisan support in Congress to outline clear rules for stablecoins. Allaire emphasizes the need for clarity and regulation, arguing that all US-based companies issuing dollar-pegged stablecoins should register, regardless of their global location. This stance arises from his belief that consumers need protection and financial integrity is paramount. Senator Bill Hagerty’s proposed legislation aims to create a legal framework for stablecoins, which could be one of the first crypto policies reviewed under the Trump administration. Allaire highlights the importance of regulation while serving American customers as US companies offering stablecoin services should comply with existing regulations regardless of their location. Tether recently moved its headquarters to El Salvador and has faced criticism for its lack of transparency. The company’s CEO, Paolo Ardoino, responded to claims that other crypto firms are lobbying against Tether, suggesting these competitors focus more on undermining Tether than on improving their own products. Concerns arise from Tether’s substantial reserves managed by Cantor Fitzgerald, whose former CEO is now the US Secretary of Commerce. The connection raises questions about how regulatory decisions might affect Tether. Meanwhile, the Fed believes stablecoins can boost the US dollar’s global presence and benefit the US economy while Representative Maxine Waters has introduced a bipartisan bill for stablecoin regulation. As US lawmakers push for a structured regulatory framework, debates over oversight continue, with Circle’s call for mandatory registration highlighting the increasing importance of compliance within the digital asset market.