Top stablecoin issuer Circle planned to shift its headquarters from Ireland to the USA, ahead of the planned IPO.
Circle is a fintech company that offers various financial services, including the creation and management of stablecoins, such as USDC (USD Coin). USDC is a cryptocurrency pegged to the US dollar, offering stability and liquidity in the crypto market. It’s widely used for trading, remittances, and other financial transactions within Crypto space.
On 15 May 2024, Bloomberg reported that Circle filed documents with the court, planning to shift its legal headquarters from Ireland to its native jurisdiction United States (US) in preparation for its upcoming Initial Public Offerings (IPO).
Circle Internet Financial, issuer of crypto’s second-largest stablecoin, plans to shift its legal base to the US from the Republic of Ireland https://t.co/jiTOMiNhXG
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So far no official statement has come to the public domain by the Circle firm on this report but on record legal activities by this firm are giving strong back to these reports.
US vs Crypto
There is no doubt that the situation for crypto companies to run business in the US jurisdiction is not good. Notably, the majority of the big crypto players are under huge legal hurdles in the country.
Despite the hostile regulatory environment, Circle’s latest decision to shift its headquarters to the US is a very bold move.
Ripple vs Tether
San Francisco headquartered blockchain firm Ripple is also planning to launch a new US dollar-pegged stablecoin. Just a couple of days ago, Ripple CEO said that he believes the US Securities regulatory body SEC may initiate a lawsuit against Tether (USDT) stablecoin.
In response, Tether CEO slammed Ripple CEO for such misleading predictions and called such things only a part of FUD.
However many crypto experts backed such predictions & said that Ripple CEO’s statement on Tether was true enough, as the US SEC sued multiple crypto companies in the past couple of years & also working to initiate more legal battles against other crypto companies.
Read also: Ripple executive dismisses the allegation of spreading FUD around Tether (USDT)
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