The US Securities and Exchange Commission is Being Heavily Criticized by a Cryptocurrency Company.

The CEO of Circle has strongly criticized the United States Securities and Exchange Commission (SEC) for imposing regulatory restrictions on the cryptocurrency industry. Specifically, Jeremy Allaire opposes the SEC's focus on stable digital currencies, arguing that payment stablecoins linked to the US dollar should be supervised by a banking regulator rather than the SEC, as not all stablecoins are created equal. Allaire supports the US Commodity Futures Trading Commission's proposal for cryptocurrency custody, which would require exchanges to use qualified custodians to provide proper oversight structures, bankruptcy protection, and other safeguards.