Circle's Jeremy Allaire bullish on FASB 'enormous strategic unlock' for stablecoins

Co-founder of Circle (NYSE: CRCL), Jeremy Allaire has called the new accounting proposal from the U.S. Financial Accounting Standards Board (FASB) “an enormous strategic unlock” for stablecoins like USDC. He said this on Friday 21, August, 2026.

He claimed that the proposal makes it easier for companies to hold tokens. This came three days after the FASB’s proposal that would allow financial institutions and corporations to classify appropriate stablecoins as cash equivalents.  

Why Allaire is speaking on accounting rules

Allaire’s company, Circle, issues the USDC stablecoin, and he gave the proposal “a nine out of 10”. He linked the new policy to the GENIUS Act and said the new accounting change, coupled with the passage of the GENIUS Act, would pave the way for the wider usage of USDC.   

The euphoria is not without reason. The manner in which a company records a stablecoin on its books will determine if a treasurer touches it or not. In fact, when lenders gauge a borrower’s capacity to pay back their loan, they regard cash equivalents more than they do intangible assets. 

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