Circle Shuts Down Banking Rumors, Urges Clear USDC Stablecoin Rules in the U.S.

Circle has firmly denied speculation about becoming a bank, with Chief Strategy Officer Dante Disparte stating the company has no plans to pursue status as an insured depository institution. This clarification comes as U.S. regulators increase scrutiny on stablecoin issuers.

The USDC issuer emphasized its commitment to compliance with future federal frameworks, which may require obtaining a trust charter or nonbank license. This stance highlights the growing divide between America’s regulatory uncertainty and clearer stablecoin policies in regions like the EU and Singapore.

Disparte’s public statement underscores mounting pressure on U.S. lawmakers to establish transparent regulations for dollar-pegged cryptocurrencies. Circle’s position reflects broader industry frustration with the SEC’s enforcement-heavy approach to crypto oversight.