The SEC, which recently stopped BUSD issuance by threatening a lawsuit for allegedly selling BUSD issuer Paxos unregistered securities, has made the same warning to other US-based stablecoin companies, including USDC distributor Circle, according to the latest information.
The SEC has issued Wells notices to a group of U.S. stablecoin companies, including Circle, demanding that they stop and discontinue unregistered securities sales. Cryptocurrency companies will have the opportunity to challenge/sue the claims before a lawsuit is filed.
*Not investment advice.
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