Circle has updated its terms to permit the lawful purchase of firearms using USD Coin (USDC), reversing a previous ban following significant backlash from lawmakers and industry advocates. This decision responds to accusations of financial discrimination against gun owners and reflects a shifting regulatory landscape for digital currencies in the United States.
The policy change follows critique from groups like Americans for Tax Reform and the National Shooting Sports Foundation, who argued that Circle’s earlier restrictions amounted to ideological censorship. As national regulations evolve, this move not only restores access for legal firearm transactions but could set a precedent for future stablecoin issuer policies, particularly as the market capitalization of stablecoins continues to grow beyond $300 billion.
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