Circle CEO says company won't freeze USDC without court order

Circle CEO Jeremy Allaire said the company will not freeze specific wallets or USDC assets without a U.S. court order. According to CoinDesk, Allaire described USDC as a regulated financial product, not something with which its operator can intervene in real-time. He stressed that while Circle complies with regulations and is obligated to freeze assets when directed by law enforcement or a court, such decisions should not be made at the company's own discretion. The comments follow recent criticism from the crypto community that Circle's response to hacked and stolen funds has been inadequate and its freezing authority is exercised too arbitrarily.