stable coins
By James Thorp
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Jeremy Allaire and the NYDFS Standard. Circle's CEO Jeremy Allaire didn't hold back. He called out NYDFS specifically as an institution…
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What the Charter Means for USDC. Circle sees the NYDFS approval as a direct boost to USDC's positioning.
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Circle just got a major regulatory stamp. The New York Department of Financial Services handed the stablecoin issuer a limited-purpose trust charter — a move that puts Circle in…
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The charter registers Circle Internet Trust Company as a Limited Purpose Trust Company under NYDFS rules.
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Circle's CEO Jeremy Allaire didn't hold back. He called out NYDFS specifically as an institution that sets international standards for digital asset regulation — and he's not…
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And Circle's got history with NYDFS going way back. The company was the first firm ever to receive a BitLicense, in 2015.
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The NYDFS charter doesn't exist in isolation either. Circle recently got OCC approval to establish Circle National Trust — a federal-level trust structure.
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Circle sees the NYDFS approval as a direct boost to USDC's positioning. The company wants USDC treated as a trusted digital dollar — not a crypto experiment — and that framing…
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Read also: Tillis and Gallego Send White House a Crypto Ethics Fix to Unlock 60 Votes
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Circle hasn't disclosed what immediate operational changes follow from the charter. That's probably fine for now.
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Stablecoin issuers have faced years of scrutiny over exactly these questions: who holds the reserves, how are they managed, and what happens if something goes wrong.
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The broader stablecoin market has been moving toward heavier regulation for a while now. Demand from institutional users, payment companies, and cross-border settlement desks has…
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Allaire has framed all of this around safety, transparency, and compliance — the three words Circle keeps returning to when it talks about its regulatory strategy.
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Read also: Coinbase Posts $359M Loss and Misses $1.29B Revenue Bar in Q2
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Circle's decade-long regulatory journey, from its first BitLicense in 2015 to a dual state-and-federal trust structure today, is probably the clearest example in the industry of…
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