According to PANews, Circle Co-Founder Jeremy Allaire has emphasized the importance of dollar-pegged digital token issuers registering to operate in the United States. This statement comes in light of a bill introduced by Republican Senator Bill Hagerty in February 2025, which aims to establish a regulatory framework for U.S.-backed stablecoins. Allaire stated that operating a dollar stablecoin should not be considered a free pass, highlighting the necessity for both offshore companies and those headquartered elsewhere to register in the U.S. if they wish to offer dollar stablecoins, similar to how Circle registers in other jurisdictions.