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Campaign for Accountability (CfA), a non-profit ethics watchdog organization, has raised concerns about possible links between Circle, the issuer of the USD Coin (USDC) stablecoin, and terrorist financing activities. In a letter to US senators Elizabeth Warren and Sherrod Brown, CfA highlighted the integration of Circle with TRON, an Asia-based network involved in international lawsuits. The watchdog group pointed out that over $400 million worth of USDC is currently present in the TRON ecosystem, which is under investigation for billion-dollar transactions by suspected crime groups and internationally sanctioned parties. CfA also referenced reports that wallets associated with Hamas and Hezbollah terrorist groups have been receiving funds from addresses redeeming large quantities of USDC. The group criticized regulatory agencies for allowing Circle to operate without oversight, unlike other cryptocurrency firms that are registered with regulatory bodies. CfA believes that under appropriate regulatory authority, Circle would have been prevented from issuing the USDC token on networks like TRON that may not meet US compliance standards.