According to TechFlow, on November 6, stablecoin issuer Circle updated its terms of service to remove a prior ban on using USDC to purchase firearms. The policy change came under pressure from the National Shooting Sports Foundation (NSSF) and gun rights advocates, who accused Circle of discriminating against legal commercial activities. A Circle spokesperson confirmed, 'We have clarified the terms to reflect that USDC can be used for legal gun transactions protected under the Second Amendment. We will not reject USDC transactions involving legal firearms.' Republican Senator Bill Hagerty called it a 'victory against the weaponization of the financial system.' However, Komodo's CTO Kadan Stadelmann warned that the event shows 'stablecoins are subject to political influence,' and questioned whether centralized stablecoin issuers can remain truly neutral, as they 'are bound by U.S. laws, regulations, and political policies.'
Circle Updates USDC Policy to Allow Legal Gun Purchases, Sparks Debate on Stablecoin Neutrality
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