Circle Denies Any Involvement in Terrorist Financing, and Justin Sun

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Last Updated on December 3, 2023 by Bitfinsider

Circle, a digital currency startup, has vehemently denied charges made by a Washington watchdog group that it funds terrorist organizations.

Circle Chief Strategy Officer Dante Disparte disputed claims made in a 13-page letter the lawmakers received earlier this month from the Campaign for Accountability, which claimed that Circle facilitates money laundering by terror groups Hamas and Hezbollah in a letter to Senate Banking Committee Chairman Sherrod Brown (D-Ohio) and Sen. Elizabeth Warren (D-Mass.).

Disparte further denied the group’s assertions that China-based blockchain platform TRON and its founder Justin Sun are connected to Circle.

“Let us be perfectly clear: Circle does not facilitate, directly or indirectly, or finance Hamas (or any other illicit actors),” he wrote. “Nor does Circle bank Justin Sun.”

Regarding financial crimes, Disparte underlined that Circle has worked closely with law enforcement.

“In the last month alone, we were recognized by the U.S. Secret Service for prolonged support identifying instances of fraud and ‘pig-butchering’ scams and assisting in the recovery of funds,” he wrote.

Allegations that Circle facilitates terrorism financing are “replete with errors, omissions, and misleading information,” he continues.

Concerning Sun, Disparte stated that his company severed connections with the controversial cryptocurrency inventor earlier this year.

“To date, the U.S. government has not specifically designated Mr. Sun or his entities as Specially Designated Nationals,” Disparte said. “Nonetheless, Circle terminated all accounts held by Mr. Sun and his affiliated companies in February 2023.”

He mentioned the TRON Foundation and Huobi Global.

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