According to BlockBeats, on July 19, Circle CEO Jeremy Allaire stated in an interview that he believes the company will benefit more from the (GENIUS Act) due to its consistent compliance history.
“I believe the (GENIUS Act) has written Circle's business model into law,” said Jeremy Allaire. Top institutions choose to work with Circle because of the trust the company has earned over the years through its commitment to public audits and compliance with global regulatory frameworks.
“We believe this law will continue to accelerate our growth opportunities,” said Jeremy Allaire, “because we are transitioning from offshore cryptocurrency trading to legitimate digital dollar currency and integrating it into the mainstream financial system.”
Although Tether and Circle are fierce competitors that often criticize each other, the leaders of both companies rarely appear in the same venue. The signing ceremony for the (GENIUS Act) at the White House on Friday provided this rare opportunity—when President Trump signed the bill, Paolo Ardoino and Jeremy Allaire stood behind him.
