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Circle CEO says stablecoins should be regulated by banking, not SEC, backed by new GENIUS Act law.

Market News
16 Jun 2026
Crypto Briefing
View Source
Bullish
pluang ai news

Circle CEO Jeremy Allaire argues that stablecoins should be regulated by banking authorities rather than the Securities and Exchange Commission (SEC), as stablecoins function more like digital dollars than securities. This view gained support with the 2025 GENIUS Act, which established a federal regulatory framework for payment stablecoins, requiring 100% reserves and banking-style oversight. Circle, which issued USDC stablecoin and went public in 2025, benefits from this framework, positioning itself ahead of competitors who now face pressure to comply with stricter regulations or risk exclusion from the regulated market. The implementation details of the GENIUS Act will be crucial for the stablecoin industry's future.

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