<a target="_blank" href="https://tokeninsight.com/en/coins/usd-coin/overview">$USDC</a> issuer Circle has filed its amicus curiae brief of the US Securities and Exchange Commission (SEC) suing <a target="_blank" href="https://tokeninsight.com/en/exchanges/binance">Binance</a> case, arguing that stablecoins, such as $USDC and <a target="_blank" href="https://tokeninsight.com/en/coins/binance-usd/overview">$BUSD</a>, are not securities.
In June, the SEC sued Binance and CZ, alleging the exchange unlawfully offered and sold unregistered securities, including $BUSD. But Circle claimed that stablecoins can't constitute securities, partly because the buyers don't expect any profit from standalone purchases.
In the filing, Circle said that the payment sablecoins themselves don't have the essential features of an investment contract, thus don't belong to the SEC's jurisdiction.
Related: <a target="_blank" href="https://tokeninsight.com/en/news/key-points-on-the-sec-s-lawsuit-against-binance-and-cz">Key Points on the SEC's Lawsuit Against Binance and CZ</a>
<img src="https://s2.tokeninsight.com/static/calendar/img20230929025745f73cfd8c-edde-4268-b2fb-94da2a6c60fe.jpg">
Stay updated with the most important <a target="_blank" href="https://tokeninsight.com/en/news">cryptocurrency news</a> and valuable insights, conveniently delivered to your email every day. <a rel="noopener noreferrer nofollow" target="_blank" href="https://mailchi.mp/tokeninsight/newsletter">Subscribe to the TokenInsight mailing list now!</a>
Prefer social media? Follow us on <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/tokeninsight">Twitter</a>, or subscribe to our <a rel="noopener noreferrer nofollow" target="_blank" href="https://t.me/TokenInsightchannel">Telegram channel!</a>
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>

Circle Claims Stablecoins Aren't Securities in Amicus Curiae Brief of SEC-Binance Case

TokenInsight

Other articles published on Sep 29, 2023

Three Arrows Capital Co-Founder Zhu Su Apprehended in Singapore, Sentenced to 4-Month Imprisonment

XRP Volume Surges Ahead of Ripple’s NYC Celebration Event – Here’s the Next Price Target

Shiba Inu: $2 Worth SHIB Becomes $14.5 Million in October 2023

SEC delays spot Bitcoin ETF decision for BlackRock, Invesco, and Bitwise, again

Crypto artist raises $140K for cancer treatment at NFT Art event in Edinburgh

CL Stock Forecast: Will (NYSE: CL) Break It’s Range & Go Upward?

Join our free newsletter for daily crypto updates!