The digital asset landscape is evolving rapidly, and few sectors have experienced as much transformation as stablecoins. Recent developments in U.S. regulation signal a decisive shift toward a comprehensive legal framework. Within this context, the Initial Public Offering (IPO) of Circle Internet Group—the issuer of USDC, the second-largest stablecoin by market capitalization —is more than a corporate milestone. It marks a pivotal moment in the maturation of the industry and the growing integration of digital assets into traditional finance. The initial IPO pricing at a higher-than-expected price point, together with a first-day price surge to more than 250% of the IPO price, shows Wall Steet’s enthusiasm for stablecoins. For a full analysis, click here for the article that was published in Reuters Legal News on June 12, 2025.
Circle’s IPO and the New Era of Stablecoin Regulation in the U.S.
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David Zaslowsky
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David Zaslowsky has a degree in computer science and, before going to Yale Law School, was a computer programmer. His practice focuses on international litigation and arbitration. He has been involved in cases in trial and appellate courts across the United States and before arbitral institutions around the world. Many of David’s cases, including some patent cases, relate to technology. David has been included in Chambers for his expertise in international arbitration. He is the editor of the firm's blockchain blog.