 |
| Foto:x/circle |
VISTORBELITUNG.COM,WASHINGTON, D.C. Leading stablecoin issuer Circle is actively lobbying the U.S. Treasury Department to adopt a clear and decisive regulatory framework for all stablecoin providers, advocating for "simple, strong rules" under the proposed GENIUS Act.
The company, which operates the USDC stablecoin, is pushing for regulatory equality across the board, insisting that the same stringent standards must apply to banks, nonbank financial institutions, and foreign entities issuing or backing stablecoins.
In its recent appeal to the Treasury, Circle emphasized that regulatory parity is essential to foster a stable and competitive digital asset landscape. The core of their argument revolves around the need for uniformity in requirements, particularly concerning:
Reserves and Redemption: Mandating that all stablecoins are fully backed by high-quality, liquid assets and ensuring immediate, one-to-one redemption rights for all holders.
Risk Management: Implementing consistent operational and security risk management standards for all issuers, regardless of their institutional type.
Transparency: Requiring regular, comprehensive public disclosures of reserve composition and audited financials.
Circle argues that a dual system where banks enjoy lighter regulation than nonbank competitors like Circle would create an uneven playing field and potentially introduce systemic risks. Likewise, they stressed that foreign stablecoin issuers operating within the US market should be subject to the exact same consumer protection and stability requirements as their domestic counterparts.
"A lack of universal standards not only stifles fair competition but also opens the door for regulatory arbitrage, ultimately putting consumers and the financial system at risk," a Circle spokesperson noted in a statement. "The GENIUS Act provides the perfect opportunity to establish a clear, technology-agnostic framework."
While the GENIUS Act (Generating Economic New Ideas and US Stablecoin Innovation and Oversight Act) is still under legislative consideration, the Treasury Department plays a key role in recommending and shaping the regulatory execution of any enacted bill.
Circle's proactive engagement reflects the industry's growing desire for regulatory clarity, which many believe is necessary to unlock the full potential of stablecoins as a foundational layer for modern digital finance. The move signals a strong push to ensure that future stablecoin regulation prioritizes safety, soundness, and competitive fairness over institutional bias.