Circle CEO said he is optimistic about digital USD applications and mentioned OCC drafting GENIUS Act rules
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AT A GLANCE
Circle CEO said he is not focused on Bitcoin’s short-term price and is more optimistic about digital USD uses, believing that stablecoin regulation is gradually becoming clearer.
Article
Circle CEO: Not particularly focused on Bitcoin prices; stablecoin regulation may be gradually becoming clearer
BlockBeats reports that October 22，Circle CEO Jeremy Allaire said in an interview with CNBC that he is not particularly focused on Bitcoin’s short-term price performance and is more optimistic about digital AI used for payments and the artificial intelligence (USD). Allaire said digital USD can be used for payments, trading, lending, and investment, while AI agents will participate in more economic activities in the future, potentially further driving demand for digital USD and related blockchain infrastructure.
However, he did not provide specific data on the growth in related demand. On the regulatory front, the U.S. Office of the Comptroller of the Currency (OCC) is drafting rules related to the GENIUS Act. The proposal requires stablecoin issuers to hold reserve assets worth no less than the total amount of stablecoins in circulation and redeem them at par within business days, while prohibiting issuers from paying interest to holders. Allaire believes that the Act has bipartisan support and can provide policy safeguards for the stablecoin industry, but broader U.S. crypto market-structure legislation has still made no progress.
Original link https://m.theblockbeats.info/flash/373107
Key points
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Circle CEO Jeremy Allaire said in an interview with CNBC that he is not particularly focused on Bitcoin’s short-term price performance.
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Jeremy Allaire said he is more optimistic about digital USD。
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Allaire said digital USD can be used for payments, trading, lending, and investment.
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Allaire said AI agents will participate in more economic activities in the future, potentially driving demand for digital USD and related blockchain infrastructure.
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The report explicitly noted that Allaire did not provide specific data on the growth in related demand.
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The U.S. Office of the Comptroller of the Currency is drafting rules related to the GENIUS Act.
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The proposal requires stablecoin issuers to hold reserve assets worth no less than the total amount of stablecoins in circulation and redeem them at par within business days, while prohibiting issuers from paying interest to holders.
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Allaire believes that the Act has bipartisan support and can provide policy safeguards for the stablecoin industry.
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Broader U.S. crypto market-structure legislation has still made no progress.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Allaire’s focus is not Bitcoin’s short-term price movements, but the uses of digital USD in payments, trading, lending, investment, and AI agent economies. On the regulatory side, the relevant proposal sets requirements for reserves, redemption timing, and interest payments, but the rules are still being drafted.
Why it matters to readers
If the relevant rules are gradually clarified, the reserve and redemption requirements that stablecoin issuers must comply with will also become clearer; however, the outlook for demand for digital USD in the report is currently based mainly on Allaire’s judgment.
Beginners should distinguish between the regulatory proposal described and the forecast of future demand: rules for the former are still being drafted, while the latter is not supported by specific growth data and should not be treated directly as an already-occurring market change.
Risks and unknowns
The report did not provide specific data on the growth in demand for digital USD.
AI Whether USD agents will drive demand for digital and related blockchain infrastructure remains unconfirmed.
《GENIUS Rules related to the Act are still being drafted; the final rules were not specified.
The report did not attach the original materials from the CNBC interview; the relevant statements are paraphrased.
It is unknown when broader U.S. cryptocurrency market structure legislation will advance.
Related Developments
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Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
