Circle CEO Says U.S. Stablecoin Rules Are Taking Shape, Downplays Bitcoin (BTC) Moves

Circle CEO Jeremy Allaire said U.S. stablecoin rules are taking shape as he described digital dollars as a potential fit for payments and economic activity involving artificial intelligence agents.

Allaire said Oct. 22 that he is not closely watching Bitcoin (BTC)’s short-term price moves. He sees greater potential in digital dollars, which he said can support payments, trading, lending and investing.

Allaire has previously outlined a role for digital dollars in an economy where AI agents work and transact. He said broader participation by AI agents in economic activity may increase demand for digital dollars and related blockchain infrastructure.

The Office of the Comptroller of the Currency (OCC) is developing rules under the GENIUS Act. The proposal would require stablecoin issuers to hold reserves at least equal to tokens in circulation and redeem tokens at face value within two business days. It would prohibit issuers from paying interest to holders.

Allaire said bipartisan support for the act could provide policy backing for the stablecoin industry. Broader U.S. legislation on crypto market structure has not advanced.