PANews reported on November 6th that, according to Decrypt, stablecoin issuer Circle updated its terms of service to allow the purchase of legal firearms using USDC. This policy had previously drawn criticism from the US gun industry and Republican lawmakers for allegedly discriminating against legitimate business activities. Circle confirmed to the National Shooting Sports Foundation (NSSF) that USDC can be used for "legal arms transactions protected by the Second Amendment" and stated that it will not refuse such transactions in the future. Senator Bill Hagerty called the update a victory for the "weaponization" of the financial system. Industry insiders warned that this incident exposes the vulnerability of centralized stablecoins to political pressure.PANews reported on November 6th that, according to Decrypt, stablecoin issuer Circle updated its terms of service to allow the purchase of legal firearms using USDC. This policy had previously drawn criticism from the US gun industry and Republican lawmakers for allegedly discriminating against legitimate business activities. Circle confirmed to the National Shooting Sports Foundation (NSSF) that USDC can be used for "legal arms transactions protected by the Second Amendment" and stated that it will not refuse such transactions in the future. Senator Bill Hagerty called the update a victory for the "weaponization" of the financial system. Industry insiders warned that this incident exposes the vulnerability of centralized stablecoins to political pressure.
Circle updates its terms of service to allow the legal purchase of firearms using USDC.
PANews reported on November 6th that, according to Decrypt, stablecoin issuer Circle updated its terms of service to allow the purchase of legal firearms using USDC. This policy had previously drawn criticism from the US gun industry and Republican lawmakers for allegedly discriminating against legitimate business activities. Circle confirmed to the National Shooting Sports Foundation (NSSF) that USDC can be used for "legal arms transactions protected by the Second Amendment" and stated that it will not refuse such transactions in the future. Senator Bill Hagerty called the update a victory for the "weaponization" of the financial system. Industry insiders warned that this incident exposes the vulnerability of centralized stablecoins to political pressure.
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