Circle weighs in on SEC vs. Binance case, argues stablecoins will not be securities

Circle, the corporate behind the (USDC) stablecoin, has weighed in on the USA Securities and Change Fee (SEC) case in opposition to crypto change Binance, arguing that stablecoins will not be securities.

In a court docket submitting, Circle argued that belongings pegged to the U.S. greenback, akin to Binance USD (BUSD) or USDC, will not be securities as a result of those that buy the belongings will not be anticipating any revenue from buying them. In keeping with Circle, cost stablecoins should not have the “options of an funding contract” on their very own.

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