原文标题：Circle predicts stablecoins will become mainstream global payment method
原文作者：Pradipta Mukherjee
Original source: https://cointelegraph.com
编译：火星财经，Daisy
Circle predicts that stablecoins will become the mainstream global payment method
Stablecoin issuer Circle expects internet payment companies and other financial services companies to try to enter or expand into this space.
As the issuer of USDC, the world's second-largest stablecoin, Circle feels "confident" that the stablecoin will become a mainstream currency. At the same time, regulations should be harmonized globally to ensure compliance for all payment stablecoin issuers.
"Circle is confident that stablecoins will be mainstreamed as a currency for the internet age," said Dante Disparte, Circle's chief strategy officer and head of global policy, in an exclusive interview with Cointelegraph.
"We expect internet payment companies and other financial services companies to try to enter or expand into this space, which is a strong signal that stablecoins will be here to stay for a long time," Disparte noted. ”
However, according to Disparte, it is also important that the relevant rules and regulations should be harmonized globally. He said the basic principles of conservative reserves and financial crime compliance should apply equally to any company that claims to issue payment stablecoins.
Circle moves to New York
Disparte's comments come as the stablecoin issuer plans to relocate its global headquarters to New York in early 2025 and filed for an initial public offering (IPO) in January.
Disparte noted that the United States framework empowers state banking and money transmission regulators to develop and regulate the payments industry at the state level. Other countries regulate payment or e-money activities at the national level.
"A key question now is whether United States will eventually enact federal stablecoin regulations or continue to maintain the current state of uncertainty that policymakers on both sides of the United States consider unacceptable," Disparte explained.
"The lack of a regulatory framework for dollar-pegged stablecoins in the United States represents a threat to United States interests. This vacuum could incentivize the development of products that exploit trust in the dollar, bypassing United States regulation and potentially becoming a safe haven for illegal actors. ”
Disparte argues that federal legislation is critical to paying stablecoins that will help promote safe competition among United States in how money is sent, spent, saved, and secured in an increasingly technology-dependent market.
What is a stablecoin? How do they work? Source: YouTube.
He said the stablecoin bill, pushed forward by the House Financial Services Committee in July 2023, has generated significant policy momentum and support.
"Congress should approve the bill in a bipartisan manner, and if it reaches the president's desk, it should be signed into law. This legislation will set a floor for all issuers to comply with United States anti-money laundering, counterterrorism financing and sanctions obligations," Disparte said.
He added that these specifications should apply to United States payment stablecoin issuers, as well as their international counterparts, many of which have been licensed to issue dollar-denominated stablecoins in jurisdictions including the European Union and the U.A.E..
Can the EU's MiCA 2.0 fill the gaps in the system?
The EU's Regulation on the Regulation of the Markets in Cryptoassets (MiCA) came into force in June, and new rules on stablecoins came into effect on June 30.
On July 1, Circle announced that it had become the first global stablecoin issuer to achieve compliance under the MiCA regulatory framework, after receiving an Electronic Money Institution (EMI) license from the France Banking Regulator. Circle's USDC and EURC are both compliant with regulatory requirements under the new rules.
"With MiCA, Europe has succeeded in achieving what other jurisdictions, including the United States, have yet to achieve: provide legal and regulatory clarity to the entire digital asset market, not just a part of it," Disparte said. However, he noted:
"Like all new rules or comprehensive regulations, MiCA has imperfections and is in some ways so detailed that EU policymakers are already considering MiCA 2.0, which could fill some of the gaps in the regime, such as non-fungible tokens (NFTs), decentralized finance, and other areas."
Competition in the stablecoin market has intensified
Competition in the stablecoin market is intensifying with the entry into the market of PayPal's dollar-pegged stablecoin, PayPal USD, which has a market cap of more than $1 billion. Ripple Labs has also begun testing its dollar-pegged stablecoin, Ripple USD (RLUSD), on the XRP ledger and Ethereum, with plans to expand to more blockchains.
According to CoinMarketCap, Tether's USDT remains the largest stablecoin, with a market cap of over $118 billion. Tether also announced plans to launch a new stablecoin pegged to the U.A.E. Dirham (AED).
Stablecoins: How the most stable cryptocurrencies can cause the entire market to collapse. Source: YouTube.
As of August 26, the total market capitalization excluding algorithmic stablecoins hit an all-time high of $168 billion. The market hit an all-time high of $167 billion in March 2022 but fell to $135 billion by the end of that year.
Disparte added, "We welcome any competitor to come to places like the United States, the European Union, Singapore, etc., undergo a rigorous licensing process, follow the standards on which our company lives, and be a priority compliance company so that the ecosystem can thrive in the long term." ”