Digital currency company Circle has firmly refuted allegations made by the non-profit group Campaign for Accountability regarding its alleged involvement in providing funding to Hamas and Hezbollah, two organizations designated as terrorist groups by the United States government.
Circle’s Chief Strategy Officer, Dante Disparte, responded to a letter from Senators Sherrod Brown and Elizabeth Warren, which referenced the accusations, categorically denying any such involvement.
In response to the accusations made by the Campaign for Accountability, Circle’s Dante Disparte issued a clear and unequivocal statement, asserting that the company does not facilitate, directly or indirectly, or finance any illicit actors, including Hamas and Hezbollah. This statement comes after the non-profit group alleged that Circle played a role in enabling these organizations to access funding.
Disconnection from Justin Sun and TRON
Additionally, Disparte addressed claims of Circle’s ties to Justin Sun and the China-based blockchain platform TRON. He clarified that Circle had severed all connections with Justin Sun and his affiliated companies as of February 2023, dispelling any notion of an ongoing association.
Circle emphasized its commitment to maintaining high regulatory standards. The company operates as a licensed money transmitter in 46 U.S. states and is subject to the U.S. Bank Secrecy Act rules aimed at combating money laundering.
This commitment to regulatory compliance is further underlined by Circle’s support for the strengthening of anti-money laundering rules for cryptocurrencies. Circle has backed recent legislative proposals introduced by Senators Warren and Roger Marshall, demonstrating its dedication to responsible and compliant digital currency practices.
Recognition for combatting fraud
Highlighting Circle’s proactive stance in combating fraudulent activities within the digital currency space, Disparte pointed out that the company had recently received recognition from the U.S. Secret Service. The recognition praised Circle’s support in identifying instances of fraud and assisting in the recovery of funds, underscoring the company’s commitment to maintaining the integrity of its platform.
Advocacy for a federal framework
Furthermore, Disparte emphasized Circle’s advocacy for a comprehensive federal framework to govern stablecoins. He stated that no other digital asset company has advocated more strongly than Circle for such a framework, aligning with the broader industry’s efforts to establish clear regulations for stablecoins.
