honestly, I'm not so surprised..Circle is getting big. they have killer mobile app (at least for android), cool, modern and fast website and lot of strong investors firms behind.

https://www.circle.com/en/investors

I think, that we will hear a lot about Circle and they will become one of the leaders within upcoming 2 years.

Of course they are going the way of banks when the US government makes them go this way. This is the only way to get all of the licenses, BitLicense included and to comply with all of the KYC crap.

American Bitcoin companies and American bitcoiners don't have much of the choice in my opinion. I mean, if I got charged and fined like I killed someone for simple trading on localbitcoins, I would have complied with everything as well.

I think they are just going the FinTech way instead of the bank path. A pure USD wallet would be interesting, it might use bitcoin as a backbone to transfer the USD like abra

That's an interesting possibility. I wonder whether their direction would gradually change to putting BTC deep in the background and just market themselves as a super efficient payment system. It slightly defeats what that pointy-headed baldie has been talking about but there's probably a load more money in it.

Just shop elsewhere. They only operate in one country and there's no shortage of other options.

For context, I am in no way affiliated with Circle, just had a chance encounter that tipped me off.  My use of circle amounted to needing to prove I had a pathway to get mining profits from a pool into my checking account without paying fees.  For that use, circle has been great.  I'm curious what the fear is?  If anything I saw this news as a good thing.  It seems to me that what bitcoin really needs is adoption, and that means we need merchants.  Merchants need stability.  If we can't give them a stable exchange rate, then giving them an app that isolates them from the volatility should help adoption.  So what's the danger here?

If their prices veer away from any other market player then people will take their business elsewhere.

How big is Circle at present? I don't see them discussed all that much on here.

Not just US government affiliation; they're also heavily affiliated with the same incumbent banking corporations who are arguably most to blame for the worsening state of the legacy financial system that bitcoin is supposed to provide an escape from:



Investors Goldman Sachs and Accel:

http://blog.circle.com/2015/04/29/new-circle-investors-new-us-dollar-account-features-china-horizons/

Employing a formerly JPMorgan/Deutsche Bank executive as CFO:

http://blog.circle.com/2014/12/11/circle-team-leadership-expansion/

Employing former SWIFT CEO ( + previous investment from Accel):

http://blog.circle.com/2014/03/26/circle-closes-17-million-series-b-rolls-consumer-product-invite-limited-release/

Employing former Bank of Ireland/Goldman Sachs financier as their MD:

http://blog.circle.com/2014/07/02/circle-appoints-fintech-leader-former-bank-ireland-director-garrett-cassidy-head-european-operations/

Employing former Special Advisor to US Treasury Secretary Tim Geithner as a Director:

http://blog.circle.com/2013/11/14/circle-names-former-banking-industry-exec-head-u-s-consumer-financial-protection-bureau-raj-date-board-directors/

Employing former board member at Wal Mart/Cisco/Goldman Sachs as "global finance executive" (at the same time that Mike Hearn becomes an advisor):

http://blog.circle.com/2014/01/16/circle-adds-new-board-member-announces-key-advisors/

Launch announcement of Accel investment:

http://blog.circle.com/2013/10/30/introducing-circle/



You will eventually get what you deserve if you use a company like Circle (and let me give you a hint: remember how it feels to be a customer of the banking behemoths right now? Well.....)

Circle and Coinbase will evolve to the new existing crypto banks in the next several years. Future banking will change. Some of the old ones will die and the rest will adopt and develop new blockchain systems and crypto vehicles. Circle and Coinbase will be part of them.