TechFlow news, November 6 — According to Decrypt, stablecoin issuer Circle has updated its terms of service, removing its previous prohibition on using USDC to purchase firearms. The policy change comes amid pressure from the National Shooting Sports Foundation (NSSF) and gun rights advocates, who accused Circle of discriminating against lawful business activities.
A Circle spokesperson confirmed: "We have clarified our terms to reflect that USDC can be used for lawful firearm transactions protected under the Second Amendment. We will not decline USDC transactions involving legally owned firearms."
Republican Senator Bill Hagerty called this a victory in the fight against the weaponization of the financial system. However, Kadan Stadelmann, CTO of blockchain technology company Komodo, warned that this incident shows "stablecoins are subject to political influence," and questioned whether centralized stablecoin issuers can truly remain neutral, as they are "bound by U.S. laws, regulations, and political policies."
