{"id":14279,"date":"2023-12-01T08:48:49","date_gmt":"2023-12-01T08:48:49","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=14279"},"modified":"2023-12-01T08:48:50","modified_gmt":"2023-12-01T08:48:50","slug":"circle-denies-terror-finance-allegations-and-ties-to-justin-sun","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14279","title":{"rendered":"Circle denies terror finance allegations and ties to Justin Sun"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Circle\u00a0has refuted allegations linking it to terrorist funding and denies affiliation with crypto entrepreneur Justin Sun or his associated companies, including Tron (TRX) and HTX (formerly Huobi).<\/p>\n<p>In a letter addressed to Senators Sherrod Brown and Elizabeth Warren, Circle\u2019s Chief Strategy Officer and Head of Global Policy, Dante Disparte, stated that the Campaign for Accountability\u2019s (CfA) claims that the stablecoin company\u2019s USDC was involved in crypto terror financing were \u201creplete with errors, omissions, and misleading information.\u201d<\/p>\n<h2>Distances self from Sun<\/h2>\n<p>Circle explicitly stated that it does not bank Sun and his companies, including HTX and Tron Foundation.<\/p>\n<p>The USDC stablecoin issuer clarified that it had terminated all accounts associated with Sun as far back as February despite the U.S. government\u2019s lack of specific designation for them.<\/p>\n<p>Circle\u2019s stance follows recent reports that the Tron blockchain was increasingly being used to finance terrorist activities and organizations.<\/p>\n<p>However, Sun defended the blockchain saying it has a similar decentralized structure to Bitcoin\u00a0and Ethereum. He added that the network was \u201ccommitted to combating terrorist financing by integrating various analysis projects and partners .\u201d<\/p>\n<h2>Touts regulatory compliance<\/h2>\n<p>Circle further argued that it does not support or finance illicit actors like Hamas, directly or indirectly, and highlighted its compliance with the necessary financial laws.<\/p>\n<p>\u201cCircle is subject to multiple regulatory regimes \u2013 including the Bank Secrecy Act (BSA) and applicable laws focused on anti-money laundering and countering the financing of terrorism \u2013 and has forcefully advocated for a comprehensive federal prudential regulatory regime in the United States,\u201d Disparte wrote.<\/p>\n<p>Disparte pointed out the firm\u2019s efforts to combat illicit finance by collaborating with regulators in various countries, including the U.S. and Israel, to prevent any unlawful use of its stablecoin.<\/p>\n<p>Disparte noted that Circle has also led efforts for a comprehensive federal framework to govern stablecoins. He added:<\/p>\n<p>\u201cCircle has consistently called for federal prudential regulation of stablecoins to ensure that every issuer must meet the highest reserving, redemption, disclosure, liquidity, and operational risk management standards\u201d<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/circle-denies-terror-finance-claims\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle\u00a0has refuted allegations linking it to terrorist funding and denies affiliation with crypto entrepreneur Justin Sun or his associated companies, including Tron (TRX) and HTX (formerly Huobi). In a letter addressed to Senators Sherrod Brown and Elizabeth Warren, Circle\u2019s Chief Strategy Officer and Head of Global Policy, Dante Disparte, stated that the Campaign for Accountability\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-14279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14279"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14279\/revisions"}],"predecessor-version":[{"id":14281,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14279\/revisions\/14281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14280"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}