Circle Responds to Allegations of Ties with Hamas and Justin Sun
Circle, the stablecoin issuer behind USDC, has issued a statement in response to allegations of its ties with Hamas and Justin Sun. The company asserts that it strictly adheres to compliance standards and works closely with regulators in the crypto industry.
“We have a deep history of cooperating with law enforcement and, in the last month alone, 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,”
Justin Sun, the controversial founder of TRON, has faced scrutiny in the crypto space. Misinformation has circulated regarding his relationship with Circle and how crypto exchanges operate alongside banks. Circle emphasizes that it complies with the Bank Secrecy Act and relevant anti-money laundering laws.
Circle Stands for Regulation
Circle’s letter comes shortly after Binance announced the winding down of its stablecoin offerings due to ongoing legal issues with the US Department of Justice.
Hot Take: Circle Addresses Claims of Ties with Hamas and Justin Sun
Circle, the stablecoin issuer behind USDC, has refuted allegations of its connections with Hamas and Justin Sun. The company emphasizes its commitment to compliance and cooperation with law enforcement. In light of recent controversy surrounding Sun and the wind down of stablecoin offerings by Binance, it is clear that the crypto industry is grappling with increasing scrutiny and regulatory challenges.
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