Circle moves from Ireland to US, Eyes IPO
Circle Internet Financial, the issuer of USD Coin (USDC), the world’s second largest stablecoin,We plan to move our legal headquarters from Ireland to the United States.
These changes are part of Circle’s strategy to potentially solidify its market position. We are preparing for an initial public offering (IPO).
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Moving to the US is probably Due to increased domestic regulatory demand This decision is an important step in preparing for listing. The circle must now: Complies with Securities and Exchange Commission (SEC) regulations. This can be problematic, as seen in the ongoing lawsuits against cryptocurrency companies like Ripple.
On the other hand, the circle A presence in Ireland provides access to the European Union; This is also known for its strict regulatory approach to the cryptocurrency industry.
Your decision may have been influenced by: global tax reform Led by the Organization for Economic Co-operation and Development (OECD) A minimum 15% tax was imposed on multinational corporations. this Ireland’s low corporate tax rate reduces the financial benefits. and Despite high taxes, it makes the US a more viable base for the Circle.
Overall, Circle’s presence in the U.S. and its commitment to regulatory compliance helps maintain its position as a leader in the FinTech sector.
In other news, the CEO of Circle’s rival Tether was recently forced to defend Tether in response to claims it was under investigation by US regulators.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
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