Circle CEO wants Libra's unique operating mechanism to trigger positive regulation

Circle CEO wants Libra's unique operating mechanism to trigger positive regulation

Translator: Play the coin family ElaineHu

Jeremy Allaire, co-founder and CEO of the payment company Circle, said in an interview with Bloomberg on July 5 that Facebook's Libra will implement a closed-loop licensing system that imposes its own requirements on regulation. .

In the interview, Allaire pointed out that the regulatory methods for different stable currencies are different. He explained:

"There is a really critical difference between a stable currency running under a closed-loop licensing mechanism and a stable currency running on the public Internet – Libra currently reflects this difference in the initial release."

Allaire also pointed out that the latter is the practice of the stable currency USDC jointly issued by Circle and the US cryptocurrency exchange Coinbase. He also pointed out that he hopes Libra can promote the development of national policies on digital assets. He pointed out:

“Our view is that you know that cryptocurrency and blockchain represent the latest developments in the 21st century economic structure. It is vital to have an opportunity to implement policies that allow us to grow on a large scale in the same way as the Internet.” .

As Cointelegraph reported in May this year, Allaire pointed out that the cryptocurrency sector needs regulatory certainty, and the current definition of cryptocurrency is too broad.

Allaire also said in an interview that he expects non-sovereign value storage digital assets such as Bitcoin (BTC) to be used on a large scale in the future, and he also expects the use of stable assets to grow.

Allaire also recently debated with Canadian businessman and television celebrity Kevin O'Leary. O'Leary said that cryptocurrencies pose a serious challenge to the compliance of the financial services industry.

Currency search: Bitcoin search engine www.btcsearch.com

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Really unexpected! The Fed system took the opportunity yesterday, and the normal running time of Bitcoin can reach 99.9835%.

Several users reported that on April 2, the Federal Reserve Bank’s real-time settlement system took a short ti...

Blockchain

Research Report | Cryptographic Liquidity Analysis: BTC, ETH and Stabilizing Coins are the most liquid assets

main conclusion: 1. Slippage is a better indicator of liquidity than trading volume. 2. The most liquid assets (BTC) ...

Blockchain

QKL123 market analysis | Bitcoin attacked 10,000 US dollars, local adjustment tends to end (0903)

Abstract: In the early morning of this morning, the bitcoin volume hit 10,000 US dollars, but the performance of the ...

Blockchain

Gray scale increased bitcoin to 285,000, Wall Street capital is "flooding" into the currency market?

As a global gathering place for old money and hot money, any change in Wall Street's attitude towards cryptocurr...

Blockchain

Cryptocurrency's largest institutional asset manager Grayscale: ETH and ETC are second only to Bitcoin

Grayscale is the largest institutional asset manager in the cryptocurrency space and currently holds approximately 27...

Blockchain

The Secret History of Bitcoin: I thought I just lost a few hundred, but I regretted it

Source: Hash Pie Author: LucyCheng How much is an ordinary computer hard drive? Probably just lost it and not too dis...