Circle president calls for US leadership in crypto regulation

Circle President and former CFTC Chair Heath Tarbert has emphasised the global demand for U.S. leadership in cryptocurrency and stablecoin regulation.

“The rest of the world is yearning for US regulation,” stated Tarbert in a recent interview, highlighting the international community’s desire for the U.S. to establish a clear framework that could serve as a model for other nations.

Tarbert acknowledged that while countries like those in the European Union have made significant strides with frameworks such as MiCA, the U.S. has fallen behind due to previous administrations’ adverse stance on crypto regulation.

However, he stressed that there is still time for the U.S. to lead, leveraging the dollar’s status as a global reserve currency.

Stablecoin regulation, according to Tarbert, is a relatively straightforward task compared to other digital assets.

He outlined three critical elements for stablecoins: reputable issuers, high-quality liquid reserves backing them, and transparency in reserve holdings.

He argued that regulating stablecoins first would simplify the process and avoid overcomplicating it by coupling them with broader market structure legislation.

Tarbert’s remarks come as Congress works on bills addressing stablecoin regulation, including initiatives like the GENIUS Act.

These efforts reflect growing recognition of stablecoins as dollar proxies and their importance in global financial systems.

The push for U.S. crypto regulation follows years of uncertainty marked by enforcement-driven approaches from agencies like the SEC and CFTC.

With new leadership at regulatory bodies and bipartisan support for legislative clarity, 2025 could be pivotal for establishing a coherent U.S. policy on digital assets.

Global policymakers are closely watching these developments.

Tarbert noted that European officials have expressed eagerness to grant reciprocity once U.S. regulations are finalised.