Circle's president testifies in Congress, calls for legislation to protect the dollar's global standing

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Circle President Heath Tarbert testified before the U.S. House Financial Services Committee on September 2, urging Congress to pass cryptocurrency legislation that supports the dollar’s global role. He noted that the U.S. dollar’s share of global reserves has declined from over 70% in the late 1990s to approximately 57%. Tarbert called for the full implementation of the GENIUS Act and bipartisan support for the CLARITY Act. He also emphasized the need to align U.S. cryptocurrency policies with CFTC goals to prevent foreign systems from gaining influence.

According to Circle’s official website, Circle President Heath Tarbert testified before the U.S. House Committee on Financial Services on September 2 regarding the leadership of America’s next-generation financial infrastructure. Tarbert noted that the U.S. dollar’s share of global reserves has declined from over 70% in the late 1990s to approximately 57%, warning that the dollar’s dominance is not assured. He urged Congress to faithfully implement the GENIUS Act, close all loopholes for evasion, and work across party lines to advance the CLARITY Act to ensure that global financial markets transition onto a framework governed by U.S. law, rather than systems led by other nations.

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