Circle changes policy, allows users to buy certain weapons with USDC
The company updated its terms to prohibit the purchase or sale of weapons “in contravention of applicable laws,” suggesting that legally permissible transactions were possible.
Stablecoin issuer Circle updated its policy for one of its tokens to clarify rules around prohibited transactions, explicitly addressing the use of legally obtained firearms and weapons.
Crypto sleuths and reports from this week noted that Circle had updated its terms for its USDC (USDC) stablecoin. The terms specifically stated that the platform had the “right to monitor and, if appropriate, block or otherwise prevent transactions” related to the purchase of firearms, ammunition, explosives and other weapons.
However, users noted that Circle had updated the terms to include weapons “in contravention of applicable laws,” suggesting that US-based users and others could legally purchase firearms using the stablecoin.