Jeremy Allaire, CEO of Circle, is set to testify before the U.S. House Financial Services Committee about the need for a robust regulatory framework for payment stablecoins, emphasizing the role of digital currencies like Circle's USDC in enhancing the competitiveness of the U.S. dollar and economy. He argues that digital dollars should be universally accessible, backed by the safest assets, and free from investment and lending risks to ensure stability and prevent bank runs. Allaire has a history of advocating for blockchain technology's potential benefits to U.S. economic and national security interests, having testified before Congress multiple times, including the first Congressional hearing on blockchain technology a decade ago. His upcoming testimony coincides with bipartisan efforts to pass legislation for a federally regulated stablecoin framework. Circle, founded by Allaire, has been instrumental in expanding the role of the dollar online, with USDC becoming a leading regulated digital currency backed by liquid dollar-denominated assets and having facilitated over $10 trillion in transactions.