USDC issuer Circle supports proposal to regulate stablecoin issuers as banks

"There's a real recognition that as these payment stablecoins grow, they could grow at internet scale relatively quickly," Circle CEO said.
Source: USDC issuer Circle supports proposal to regulate stablecoin issuers as banks (https://cointelegraph.com/news/usdc-issuer-circle-supports-proposal-to-regulate-stablecoin-issuers-as-banks)
Would appreciate your opinion about this