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Circle CEO Says Stablecoin Regulation Should Not Be Assigned to US SEC

Circle CEO Jeremy Allaire told Bloomberg on Feb. 23 that the U.S. Securities and Exchange Commission should not be tasked with regulating stablecoins.

Allaire said during an interview with the publication:

“I don’t think the SEC is the regulator for stablecoins. There is a reason why … [governments are] specifically saying payment stablecoins are a payment system and banking regulator activity.”

He added that there are many variants of stablecoins and that “not all … are created equal.” However, he maintained that most regulators consider stablecoins a payment system. That statement implicitly excludes stablecoins from being classified as securities.

Circle stablecoin SEC
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