[Video | Circle CEO: Stablecoins Will Become 'Digital Cash' in the Economic System, Market Size Expected to Reach Trillions of Dollars] On July 20, Circle CEO Jeremy Allaire stated in an interview with CNBC that the GENIUS Act will establish a unified federal regulatory framework for the U.S. stablecoin market. Major stablecoin issuers will need to be regulated by national-level banking regulatory agencies, and Circle plans to integrate into the new system as a national trust bank. In his view, stablecoins are still in a very early stage, transitioning from digital asset trading tools to gradually entering the payments and capital markets. With the act set to take effect in January 2027, banks, payment companies, and large enterprises will be able to conduct business based on stablecoin infrastructure, using it as 'digital cash.' Allaire believes this will drive the stablecoin market to grow from $1 trillion to several trillion dollars in the coming years.