Circle Urges Congress to Protect Dollar's Global Leadership

Circle's President Heath Tarbert testified before the U.S. House Financial Services Committee on September 2, urging Congress to secure the U.S. dollar's leadership in global financial markets.

Tarbert warned that the dollar's share of global reserves has shrunk from over 70% in the late 1990s to roughly 57% today, calling this a 'warning sign.'

He emphasized that digital infrastructure is being rebuilt in software and that it's critical for maintaining the dollar's dominance in a rapidly digitalizing global economy.

Tarbert advocated for the full implementation of the GENIUS Act, which aims to regulate stablecoin issuance, and bipartisan passage of the CLARITY Act to provide a clear legal framework for digital assets.