TechFlow reports, Circle CEO Jeremy Allaire said 2024 could likely be the year the U.S. establishes specific legislation for the stablecoin industry. Stablecoins, which allow traders to move between cryptocurrencies, have reached a market capitalization of $135.3 billion, yet remain largely unregulated. While jurisdictions around the world are approving new crypto-focused laws, the U.S. has not yet passed federal cryptocurrency regulations. However, Allaire hopes this will change this year, saying it is "very possible" that U.S. lawmakers will approve a stablecoin bill.
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