Circle Argues Stablecoins Are Not Securities, Files Friend of Court Brief In Binance-SEC Case
Portfolio Pulse from Khyathi Dalal
Circle has entered the legal dispute between Binance and the SEC, arguing that stablecoins should not face the same financial trading regulations as traditional securities. Circle's argument is based on the fact that stablecoins are tied to the dollar and users do not expect any profit from their purchases. The case originally involved arguments from crypto exchanges such as Binance and Coinbase, which stated that cryptocurrencies should not be subject to existing strict U.S. financial laws.
September 29, 2023 | 3:56 pm
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NEUTRAL IMPACT
Binance's stablecoin, BUSD, is directly involved in the legal dispute with the SEC. The outcome of the case could impact the regulatory status and trading of BUSD.
The legal dispute directly involves BUSD and the outcome could potentially change its regulatory status and trading conditions.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Coinbase Global Inc may be indirectly affected by the outcome of the legal dispute between Binance and the SEC, as it has previously argued that cryptocurrencies should not be subject to existing strict U.S. financial laws.
The outcome of the legal dispute could potentially impact the regulatory environment for cryptocurrencies, which would in turn affect Coinbase's operations.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Circle's stablecoin, USDC, could be impacted by the outcome of the legal dispute between Binance and the SEC, as Circle has argued that stablecoins should not face the same regulations as traditional securities.
The legal dispute could potentially impact the regulatory status and trading of USDC, as Circle has argued that stablecoins should not face the same regulations as traditional securities.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100