Circle to Assume Full Governance of USDC Following Enhanced Regulatory Clarity

Circle will assume complete governance and operational duties after a period of five years, facilitated by a clearer regulatory environment. On August 21, Coinbase and Circle announced modifications to their existing partnership through identical blog posts on their respective websites. The two companies had initially co-launched the USD Coin (USDC), a stablecoin, and jointly managed it via the Centre Consortium.



The Centre Consortium is set to be dissolved, with all operational and governance aspects being managed internally. Circle's role will be expanded, including the holding of smart contract keys and ensuring regulatory compliance.



The shift in responsibilities was attributed to a more transparent regulatory framework surrounding stablecoins in the U.S. and globally, negating the need for a separate governing body like the


First found on: https://coinatory.com/2023/08/23/circle-to-assume-full-governance-of-usds/?utm_source=BG&utm_medium=Blogger+Some+Crypto+Blog&utm_campaign=SNAP