Circle Defends Stablecoins in Binance’s SEC Case
Circle (USDC stablecoin issuer) has intervened in Binance’s ongoing SEC lawsuit, arguing that stablecoins should not be classified as securities.
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According to Circle's filing, “Payment stablecoins, on their own, do not have the essential features of an investment contract,” and thus fall outside of SEC jurisdiction.
The filing cites decades of case law to support the view that an asset sale, decoupled from post-sale promises, is not an investment contract.
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