USDC

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/sec-vs-binance-circle-internet-approved-as-amicus-curiae/">SEC vs. Binance: Circle Internet Approved as Amicus Curiae</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p>Today, October 12, is the date of a pivotal hearing in the ongoing <a href="https://coinpedia.org/news/binance-vs-sec-crucial-dates-to-watch-in-binances-legal-saga-with-the-sec-and-cftc/" rel="noopener noreferrer nofollow">SEC v. Binance litigation</a>. As the case moves into a critical stage, Judge Amy Jackson issued several orders to dismiss pending motions, including an amicus brief submitted by USDC issuer Circle.</p>
<h2 class="wp-block-heading" id="h-judge-acknowledges-amicus-curiae-from-the-circle"><strong>Judge acknowledges Amicus Curiae from the Circle</strong></h2>
<p>Circle Internet Financial’s impending amicus curiae brief was accepted and approved by Judge Jackson as a recent development in the case. In the court’s decision to reject the defendants’ CEO CZ and Binance’s requests to dismiss the case, Circle will no longer support either side.&nbsp;</p>
<p>In its first submission to the Court, the USDC issuer<a href="https://coingape.com/just-in-stablecoin-issuer-circle-steps-up-in-binance-vs-sec-case/" rel="noopener noreferrer nofollow"> Circle argued t</a>hat stablecoins are not securities. In support, Circle mentioned that the SEC lacks jurisdiction over the payment of stablecoins. However, legal and practical considerations justify the SEC’s jurisdiction over the payment of stablecoins.</p>
<h2 class="wp-block-heading" id="h-court-precedent-for-submitting-an-amicus-curiae-brief"><strong>Court precedent for submitting an amicus curiae brief</strong></h2>
<p>Another minute order states that “Any future motion for leave to file an amicus brief may be accompanied by no more than two motions to appear pro hac vice and shall set forth the reasons why the brief would be helpful or necessary if it sets forth a position already taken in prior amicus briefs filed in this case.”</p>
<p>The court also reminds parties that amicus curiae may only participate in oral arguments with the court’s approval.</p>
<h2 class="wp-block-heading" id="h-motion-for-leave"><strong>Motion for Leave</strong></h2>
<p>Additionally, Judge Jackson granted requests from attorneys Jeremy Gray, Mark W. Rasmussen, Heath P. Tarbert, Eric Tung, and Daniel Kaleba for permission to represent their clients pro hac vice.&nbsp;</p>
<p>However, to file documents electronically, attorneys—or at least one representative of their firms—must complete CM/ECF training, have a username and password, and consent.</p>

SEC vs. Binance: Circle Internet Approved as Amicus Curiae

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