Circle CEO Says Crypto Tolls at Hormuz Strait Unlikely To Use USDC
BeInCrypto
Circle CEO Jeremy Allaire stated that sanctioned entities are unlikely to use USDC due to the high risk of immediate asset freezing.Summary
Circle CEO Jeremy Allaire recently addressed concerns regarding the potential use of USDC for transit tolls at the Strait of Hormuz. Allaire dismissed these fears, noting that Circle maintains highly compliant infrastructure and cooperates closely with law enforcement. He argued that sanctioned regimes typically avoid USDC because of the extreme likelihood that such assets would be rapidly frozen. Furthermore, Allaire discussed the company's regulatory stance on hacks and the CLARITY Act, emphasizing that Circle advocates for legal frameworks that provide clear protocols for freezing illicit funds.
(Source：BeInCrypto)