Circle Internet Financial reflects on the one-year anniversary of the President's Working Group on Financial Markets' report on stablecoins, emphasizing the importance of regulatory frameworks to address the complexities and risks associated with digital assets. Despite the absence of significant legislation from Capitol Hill, the U.S. government has responded with various agency reports that underscore the need for a comprehensive regulatory regime to safeguard consumers, promote financial inclusion, and maintain economic competitiveness. Circle highlights its commitment to transparency and stability, especially through its fully-backed USD Coin (USDC), which addresses concerns about stablecoin reserves and redemption clarity. The company also stresses its adherence to anti-money laundering protocols and its efforts to facilitate efficient cross-border payments, demonstrated by significant increases in remittance volumes using USDC. With initiatives aimed at expanding financial literacy and fostering collaboration with government entities, Circle anticipates that the adoption of soundly designed stablecoins will continue to grow, thereby enhancing economic opportunities globally and ensuring the United States remains competitive in the evolving digital asset landscape.