By: Economic & Finance Report

Circle chief executive Jeremy Allaire has indicated that the United States is leading in the digital currency space against other global counterparts, specifically China. Mr. Allaire testified recently before an anticipated congressional hearing on cryptocurrency aka “stablecoins” and its need for regulatory prowess.

Mr. Allaire indicated in the hearing that the US was advancing in transactions of stablecoins, with transactions in the trillions, whereas China had only $10 billion dollars’ worth of transactions in monetary stable coins thus far. Allaire reiterated at the hearing that US was further ahead than other countries in utilizing digital currency. -SB

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