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Circle wins NYDFS limited-purpose trust charter for USDC governance
The NYDFS trust charter follows Circle’s receipt of final national trust approval from the OCC, adding a New York state layer to oversight of Circle Internet Trust Company.
Circle has secured a limited-purpose trust charter from the New York Department of Financial Services, giving Circle Internet Trust Company an additional state-level role in the governance of USDC, according to The Block.
The charter comes after Circle obtained final national trust approval from the Office of the Comptroller of the Currency, which the outlet said sets the stage for the New York supervisory layer.
The move further formalizes how Circle’s trust entity is positioned within USDC’s regulatory framework, The Block reported.