Digital currency company and USDC stablecoin issuer, Circle has strongly denied accusations made by a Washington watchdog group.
The non-profit group Campaign for Accountability has accused the firm of playing a role in the ability of Hamas and Hezbollah to access funding, Decrypt reports.
Circle Chief Strategy Officer Dante Disparte responded to a letter from Sen. Sherrod Brown (D-Ohio) and Sen. Elizabeth Warren (D-Mass.), which cited the non-profit’s allegations. Disparte described the letter as “replete with errors, omissions and misleading information.”
“Let us be perfectly clear: Circle does not facilitate, directly or indirectly, or finance Hamas (or any other illicit actors),” he wrote.
Disparte also rejected the notion that Circle had ties to Justin Sun and the China-based blockchain platform TRON. He indicated that Circle discontinued all ties with the crypto founder and his affiliated companies in February 2023.
Circle’s Clarifications: Disparte wrote, “In the last month alone, we were recognized by the U.S. Secret Service for prolonged support identifying instances of fraud and ‘pig-butchering’ scams and assisting in the recovery of funds.”
He confirms that Circle maintains high regulatory standards as a licensed money transmitter in 46 states and is subject to U.S. Bank Secrecy Act rules for combating money laundering. Circle also supports strengthening anti-money laundering rules for cryptocurrencies, backing recent legislation proposed by Warren and Sen. Roger Marshall (R-Kan.).
“No other digital asset company has advocated more than Circle for a comprehensive federal framework to govern stablecoins,” Disparte added.
Read More: Stablecoin Issuer Circle Teams Up With Japan’s SBI Holdings To Maximize USDC Presence
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Image and article originally from www.benzinga.com. Read the original article here.