Circle CEO Urges Immediate Repeal of Crypto Regulations like SAB 121, Calling Them Bad Laws
Suehyeon Lee
Summary
- Jeremy Allaire, CEO of Circle, stated that it is urgent to repeal the U.S. Securities and Exchange Commission's Staff Accounting Bulletin No. 121.
- Allaire pointed out that crypto regulations make it difficult for financial institutions to hold assets.
- He emphasized that repealing the regulations could break down barriers between traditional finance and digital assets.
Jeremy Allaire, CEO of Circle, has called for the repeal of anti-crypto regulations.
According to CryptoPotato on the 21st (local time), Jeremy Allaire stated at the World Economic Forum (WEF) in Davos, Switzerland, that "to advance the crypto market, it is urgent to repeal anti-crypto regulations like the U.S. Securities and Exchange Commission (SEC)'s Staff Accounting Bulletin No. 121 (SAB 121)."
He also emphasized that "such regulations are bad laws that make it difficult for banks and other financial institutions to hold crypto assets. Repealing these regulations could break down the barriers between traditional finance and digital assets."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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