COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Circle: Stablecoins are Not Securities
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Altcoin News > Circle: Stablecoins are Not Securities
Altcoin News

Circle: Stablecoins are Not Securities

In Brief

  • Circle, the issuer of the prominent stablecoin USDC, has filed an amicus curiae brief with the court in the lawsuit filed by the Securities and Exchange Commission (SEC) against Binance, the world’s largest cryptocurrency exchange. The filing was made under the leadership of Heath Tarbert, the former chairman of the Commodity Futures Trading Commission (CFTC) […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

Circle, the issuer of the prominent stablecoin USDC, has filed an amicus curiae brief with the court in the lawsuit filed by the Securities and Exchange Commission (SEC) against Binance, the world’s largest cryptocurrency exchange.

The filing was made under the leadership of Heath Tarbert, the former chairman of the Commodity Futures Trading Commission (CFTC) and the current Chief Legal Officer of Circle, which is another federal regulator that has filed a lawsuit against Binance. The filing stated that the existing financial trading laws do not cover stablecoins, which have their value indexed to other assets.

Months after the SEC filed the lawsuit, Circle, as an amicus curiae, argues that stablecoins such as BUSD and its own USDC, which have their value indexed to the US dollar, are not securities because their users do not expect any profit from independent purchases.

In its filing to the court, Circle stated, “Payment stablecoins do not have the essential features of an investment contract on their own, meaning that they fall outside the jurisdiction of the SEC. Decades of case law support the view that a sale of an asset alone is not sufficient to create an investment contract separate from the promises or obligations of the seller.”

Intense SEC Pressure on Binance and the Cryptocurrency Sector

In June, the SEC filed a lawsuit against Binance, accusing it of violating numerous laws by facilitating trading in altcoins such as Solana’s SOL, Cardano’s ADA, and Binance’s stablecoin BUSD, claiming that they create unregistered securities. Binance, the world’s largest crypto exchange, along with its competitors like Coinbase, has been defending itself against accusations of violating heavy US financial laws, becoming the main target of the most significant lawsuit in the crypto sector.

The SEC argues that BUSD was sold as an investment contract because Binance marketed it to offer returns through reward programs. Binance.US and CEO Changpeng Zhao (CZ) filed a comprehensive application last week to dismiss the lawsuit filed by the SEC, claiming that the regulator has the power to impose sanctions on cryptocurrencies without obtaining authorization from the US Congress.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Solana Bounces Back: Unveiling Promising Altcoins and Future Prospects

JPMorgan Pushes Its Unique Crypto Network Forward

Crypto Markets Surge as Altcoins Eye Dramatic Upswing

Discover Enormous Potential in Cryptocurrency’s Next Big Wave

Pi Network Thrives Despite Upcoming Coin Releases

COINTURK NEWS 29 September, 2023 - 10:33 am 29 September, 2023 - 10:33 am
Share This Article
Facebook Twitter
Share
Previous Article Dogecoin Miners Are Taking Action: What Are the October Predictions for DOGE?
Next Article Bitcoin Bulls May Be Awakening: Analysts Spot Bullish Signs on Charts
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Solana Bounces Back: Unveiling Promising Altcoins and Future Prospects
Altcoin News
Bitcoin’s Rise Stalls: Will SOL and PENGU Make a Comeback?
Solana (SOL)
Congress Intensifies Spotlight on Trump’s Cryptocurrency Transactions
Cryptocurrency Law
JPMorgan Pushes Its Unique Crypto Network Forward
Altcoin News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?