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Ripple CEO: Circle's successful IPO signals that U.S. stablecoin regulation is on the way.
Gate News bot news, Ripple Labs CEO Brad Garlinghouse stated at the Ripple (XRP) community conference XRP Ledger Apex held in Singapore that he remains optimistic about stablecoins, and the recent Circle IPO has reinforced this view.
Garlinghouse stated: "Circle's IPO is clearly very successful. This reflects the interest of investors (including institutional and retail investors) in Crypto Assets. The future of finance will be based on blockchain."
He pointed out that one factor contributing to the success of Circle's IPO is the market's fundamental belief in the passing of the U.S. stablecoin legislation, the "GENIUS Act."
The stablecoin regulatory bill "GENIUS Act" is about to gain bipartisan support in the Senate and may be submitted to the House for review and officially come into effect before the August recess.
"In the United States, the headwinds of regulation have now turned into tailwinds, which is beneficial for the global landscape," Garlinghouse continued, "What we want is not relaxed regulation, but clear regulation, and the progress is evident."
Source: CoinDesk