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3.2.3 REGULATORY AND LICENSING PORTFOLIO

The advent of cryptocurrency and blockchain 

technology represents the most significant 

technology breakthrough since the emergence of 

the commercial internet, and Circle has believed 

it is crucial to build strong relationships with 

governments who are seeking to understand the 

technology and ensure that markets can adopt 

it while also addressing key risks to society, the 

economy, and consumers. Because of this, Circle has 

focused on deep and high-quality engagement with 

regulators since its inception, and holds the broadest 

licensing of any crypto company in the world.

Circle is a registered Money Services Business (MSB) 

with the Financial Crimes Enforcement Network 

(FinCEN) of the US Treasury Department and holds 

money transmission (or equivalent) licenses in 

48 US states and territories. Circle is the first and 

currently one of only four companies to have been 

granted a BitLicense from New York. Circle also 

holds an E-Money Issuer license from the Financial 

Conduct Authority in the UK. These licenses 

enable the company to offer fiat and crypto asset 

storage, currency exchange, and payment services 

in the United States, UK, and European Union.