Circle Reverses Policy on Firearm Purchases with USDC
- Circle has updated its policy to allow the use of its USDC for legal firearm purchases.
- The change was confirmed to the National Shooting Sports Foundation, representing gun manufacturers and retailers.
- Senator Bill Hagerty called this update a victory against the “weaponization” of the financial system.
- Industry experts warn that centralized stablecoin issuers like Circle are vulnerable to political pressure and domestic agendas.
Circle’s policy reversal comes after criticism from gun rights advocates who accused the company of discriminating against lawful commerce. The update aligns Circle’s terms with existing legal requirements, ensuring financial systems can’t be weaponized against law-abiding gun owners.
This decision highlights how centralized stablecoin issuers are subject to political influences, as noted by industry experts warning about potential risks of surveillance and censorship for users like firearms dealers. (Source)
