Campaign for Accountability (CfA), a non-profit ethics watchdog organization, has written a letter to popular anti-crypto US senators Elizabeth Warren and Sherrod Brown, alerting them to possible links of Circle, the USD Coin (USDC) stablecoin issuer, to terrorist financing activities.
Circle Compromised By Integration With TRON, CfA Says
In its letter dated November 9, CfA states that its recent discovery suggests additional concerns over the use of crypto for money laundering, which involves more than the issues raised by Warren and Brown, alongside 100+ legislators in a recent letter to the National Security Advisor and Treasury Undersecretary for Terrorism and Financial Intelligence.
The watchdog group begins by referencing recent law enforcement agencies’ reports, which indicate that Circle, a US-based cryptocurrency company, could be directly or indirectly involved in dodgy activities due to its integration with TRON, an Asia-based network currently involved in multiple international lawsuits.
Today, CfA sent a letter to @SenSherrodBrown & @SenWarren alerting them to info around the role crypto entrepreneur Justin Sun, his blockchain TRON, and the US-based stablecoin issuer Circle may be playing in the financing of terrorist organizations. https://t.co/cEukrlC0XL
— Campaign for Accountability (@Accountable_Org) November 9, 2023
CfA notes that over $400 million worth of USDC, a dollar-equivalent stablecoin issued by Circle, is currently present in the TRON ecosystem, which they
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Author: Semilore Faleti
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