ME News reports that on July 31 (UTC+8), Circle announced that the New York State Department of Financial Services (NYDFS) has granted its subsidiary, Circle Internet Trust Company LLC, a limited-purpose trust charter. Circle stated that this charter further strengthens the company’s and USDC’s regulatory foundation, reflecting its ongoing commitment to security, transparency, and compliance standards. Previously, in 2015, Circle became the first company to receive the NYDFS BitLicense and has since established a long-standing regulatory relationship with the agency. Jeremy Allaire, Circle’s co-founder, chairman, and CEO, said that obtaining the New York trust charter has long been a corporate goal, and the regulatory clarity it provides will position USDC within a more recognized regulatory framework as the digital dollar increasingly becomes a key component of the global financial system. (Source: ODAILY)
Circle Granted Limited Purpose Trust License by NYDFS to Strengthen USDC Regulatory Foundation
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Circle announced on July 31 that its subsidiary, Circle Internet Trust Company LLC, has received a limited-purpose trust license from the New York State Department of Financial Services (NYDFS). This move strengthens USDC’s regulatory foundation amid broader regulatory scrutiny of digital assets. Circle, which was the first company to obtain a BitLicense in 2015, emphasized its commitment to compliance, including adherence to CFT (Countering the Financing of Terrorism) standards. CEO Jeremy Allaire called the license a key milestone, aligning USDC with a more robust regulatory framework as digital dollars gain global momentum.
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