Reported by Steve Muchoki

Circle Chief Strategy Officer and Head of Global Policy Dante Disparte wrote a formal letter to Senators Sherrod Brown and Elizabeth Warren to refute claims that USDC has been used for funding the Hamas terror group.

After the United States Department of Treasury caught up with Binance Holdings Ltd, and its former CEO Changpen Zhao (CZ) in a historic settlement, speculation on the next in the regulator’s pipeline has heightened in the past few weeks. Moreover, Binance was nailed on charges of aiding global terrorism and enabling mainstream money laundering. With the Israeli government having identified crypto as crucial funding for the Hamas movement in Palestine, more crackdown is expected in the near future on web3 projects, more so in the stablecoins sector.

Is Circle (USDC) Off the Bait?

On November 9, 2023, the Campaign for Accountability (CfA) sent a formal letter to Senators Sherrod Brown and Elizabeth Warren complaining about how Circle Internet Financial, LLC, a leading stablecoins issuer, has facilitated mass murders through indirect funding of Hamas terror organizations. However, Circle, through its Chief Strategy Officer and head of global policy, Dante Disparte, wrote a response official letter to the same regulators refuting the claims made by CfA.

“Let us be perfectly clear:  Circle does not facilitate, directly or indirectly, or finance Hamas (or any other illicit actors).  Nor does Circle bank Justin Sun,” the letter noted.

Circle reminded the regulators that it has been operating by the law since its inception and is subject to several regulatory regimes.

Read full report: https://www.coinspeaker.com/circle-denies-usdc-terrorism/amp/

Read letter from Circle: https://www.circle.com/blog/circle-refutes-false-claims-on-illicit-financing