USDC Policy Shift Raises Questions on Stablecoin Autonomy

Decrypt reports that Circle, the issuer of the USDC stablecoin, has modified its terms of service to allow transactions involving legally purchased firearms. This move reverses a previous policy and has drawn significant attention and commentary from crypto industry professionals. An expert quoted by Decrypt stated that the policy change underscores how stablecoins' operational frameworks can be significantly impacted by political decisions and regulatory pressures, indicating a potential vulnerability to external governmental whims. This development prompts broader questions about the true independence and stability of stablecoins in a dynamic regulatory landscape.