❗️ Circle Plans to Relocate Its Headquarters to the USA
🏢 Stablecoin issuer $USDC Circle has announced the relocation of its legal headquarters from Ireland to the USA. This decision is linked to the recent filing for an initial public offering (IPO).
🇺🇸 With the move, Circle may face more burdensome American taxes. Previously, the company was attracted by Ireland's relatively low corporate taxes, but now this advantage is somewhat diluted due to recent reforms that impose a minimum 15% tax on the profits of large multinational corporations.
💰 Currently, the capitalization of $USDC is around $33 billion, having recovered from last year's low of $24 billion when Circle faced banking issues in the US due to placing part of the stablecoin's reserves in Silicon Valley Bank.
