Circle Threads Regulatory Needle with Chelsea FC Stablecoin Deal
The Financial Conduct Authority (FCA) has allowed Circle to advertise its stablecoin $USDC on Chelsea FC's shirts, despite warnings from the regulator that unauthorised crypto firms were exploiting football clubs.
Circle holds multiple licenses and authorizations worldwide, including an FCA Electronic Money Institution license, which puts it in the same regulatory category as companies like Revolut and Wise.
The company received its first virtual currency license in 2016 and has since collected numerous other credentials. Its $USDC stablecoin is issued under US law and not regulated by the FCA, but Circle's authorization allows it to promote the product.
This gap in regulation will remain until October 2027, when a comprehensive crypto asset regulatory framework takes effect in the UK.