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US at Risk of Falling Behind in Stablecoin Regulation: Circle's VP
The U.S. is at risk of falling behind in stablecoin regulation compared to other jurisdictions worldwide. While countries like the EU and Hong Kong have established unified approaches for regulating stablecoins, the U.S. lacks a national-level framework. Currently, stablecoin issuers in the U.S. must comply with fragmented state regulations, leading to compliance costs and hindering innovation. It is crucial for the U.S. to upgrade its regulatory structure to define what a well-regulated stablecoin looks like.