The co-founder of one of the world's most popular cryptocurrencies called for tighter regulation of the sector to guard against the fraud and wild swings that have dogged it, in an interview with AFP.
Jeremy Allaire of Circle recounted the US firm's decision to offer a stabilized cryptocurrency—and insisted crypto operators owed it to society to submit to safeguards just as other emerging sectors such as AI must.
"We have social objectives that we have to match against the technology," Allaire said during a visit this week to Circle's European headquarters in Paris.
Circle offers a USDC "stablecoin", pegged to the dollar, as well as a euro-pegged variant, EURC.
Currently, $35.5 billion worth of USDC are in circulation.
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