- Circle CEO Dante Disparte believes so
- He said the market needs a Dodd-Frank Act analogue
Circle Chief Compliance and CSO Dante Disparte has high hopes for this year. He is confident that we are in for a “breakthrough time” in legislation.
And countries will be forced into a global “space race of digital currencies”. That said, Disparte believes the U.S. will move away from a policy of harsh measures.
“The U.S. has historically regulated crises. They will do so this time.”
Businessman added that because of the events of 2022 (the collapse of Terra and FTX) politicians acted in haste. They are banning the crypto sector instead of studying and regulating it.
“Remember the history of the Internet. It took the dot-com bubble first, and then the technology moved into safer hands.”
The Circle CEO compared the situation to the Dodd-Frank Wall Street Reform Act. It was passed in 2010 after the global banking crisis.
“It took the financial crisis of 2008 for us to implement the Dodd-Frank Act. A lot of people may not have liked it..
But there is no other way to serve billions of customers in this industry without good regulation.”
Provider Circle issues the USDC Stablecoin and is subject to U.S. remittance laws. The market capitalization of the company’s assets reached nearly $31 billion.
Reminder: American politicians recently questioned Circle and BlockFi executives about a “special relationship” with the bankrupt bank SVB.
The company’s assets have reached almost $31 billion.