According to Circle’s Chief Strategy Officer, the stablecoin issuer does not finance Hamas or bank Tron blockchain founder Justin Sun. Circle terminated its accounts and those of affiliated companies in February 2023, ending its past dealings with Sun.
Circle has stated that it is subject to multiple regulatory regimes and complies with anti-money laundering and terror funding laws. The organization felt obligated to respond to allegations made by the Campaign for Accountability, which suggested ties between Circle and the financing of Hamas, Hezbollah, and the Palestinian Islamic Jihad by Tron.
The CSO highlighted Circle’s history in combating illicit finance activities and its partnership with law enforcement agencies. He also addressed claims about the USDC stablecoin being among $93 million in digital currencies marked for seizure by Israeli law enforcement, stating that only $160 in USDC was transferred among the identified wallets, and none of it was acquired from Circle.
Regarding Circle’s past dealings with Justin Sun, the CSO mentioned that the U.S. government has not specifically designated Sun or his entities as Specially Designated Nationals. However, Circle ceased its dealings with Sun in February 2023 when it terminated his accounts.
The letter ends with a statement that Circle is open to collaborating with U.S. Senators Sherrod Brown and Elizabeth Warren to strengthen regulation in the digital assets space.
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