Competiting or not in figure skating is about you.
If you wish to compete, then you would have two option: competiting under ISI rules or USFSA rules.
The ISI, Ice Skating Institute, offers recreational competing, it's a worldwide organization. There's no pressure, ISI competitions are meant to be fun and are open to anyone, adults, kids, beginners and advanced skaters. You have the possibility to compete in a lot of different events with different kinds of rules. The funny things If you want to compete with ISI, you have to become an ISI member, this will provide you extra insurance. The ISI offers a tests program to evaluate skaters and define in which category they will have to compete. Those tests are easy and your coach can test you, they are just here to ensure that the levels are even in a skater's category during competitions.
The USFSA, United States Figure Skating Association, is an American association that follows the ISU, International Skating Union, rules. The rules are more strict but there's also a lot of fun to have in doing USFSA competitions. If you want to compete as a USFSA skater, then you have to become a member of the association, like for ISI, this will provide you extra insurance. There's also a test curriculum in USFSA to define in which category a skater can compete always with the idea to keep the levels even in a group. There are less kind of events in USFSA as those competitions are meant to be closer to what you can see on TV.
For more infornations and chose whith which organization you should compete, refer to your coach.