Circle CEO Jeremy Allaire published a blog post on June 12 featuring testimony that he plans to present to Congress regarding draft stablecoin regulation.

Those comments pertain to the hearing scheduled for June 13 titled “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem.:

Allaire said his prepared remarks:

“The stablecoin bill is a crucial piece of legislation that should be the first step in creating a regulatory framework that builds the conditions for a vibrant and safe digital assets market.”

Allaire said that stablecoin legislation would allow for access to the U.S. dollar while also ensuring safety and allowing for competition.

Circle issues USDC, the second-largest stablecoin by market cap.

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