Circle's updated terms allow the use of USDC for "lawful" firearm purchases

BlockBeats News, November 6th, stablecoin USDC issuer Circle has updated its terms of service, allowing the use of USDC for "lawful" firearms purchases. A Circle spokesperson stated, "Circle has clarified its terms to reflect that USDC can be used for lawful firearms purchases and sales protected by the Second Amendment, has not in the past, and will not in the future, refuse USDC for legitimate transactions involving firearms. If your financial tools are used against you and your Second Amendment rights, freedom cannot endure."

This policy update originated from a report by the Americans for Tax Reform, which emphasized Circle's ban on USDC transactions involving "any kind of weapon, including firearms, ammunition, knives, or explosives," questioning whether private companies should determine which legal purchases consumers can make. The report hinted at Circle's political bias, pointing out that Circle's CEO, Jeremy Allaire, had donated to Democratic Massachusetts Congressman Jake Auchincloss, who supports gun control legislation.