Circle intervém em caso da SEC contra Binance e defende status regulatório de Stablecoins
The SECs case against Binance centers on its claim that BUSD was sold as an investment contract, primarily because Binance marketed it as offering yield through reward programs. In a recent development, renowned stablecoin issuer Circle has intervened in the US Securities and Exchange Commissions (SEC) case against Binance, arguing that stablecoins should not be classified as securities. Circle Defends Binance via Stablecoins The crux of Circle‘s argument is that financial trading laws should not be extended to stablecoins whose value is intrinsically tied to other assets. This intervention comes as the SEC charges Binance with multiple legal violations related to the trading of cryptocurrencies, including Solana’s SOL, Cardanos ADA, and the Binance stablecoin BUSD, which the SEC contends are unregistered securities. Circle highlighted in a recent filing that payment stablecoins, such as BUSD and USDC, should not be subjected to SEC jurisdiction as they do not possess the essential features of an investment contract. In essence, Circle argues that the nature of these stablecoins, primarily designed for facilitating transactions and maintaining a stable value, sets them apart from traditional securities. Central to Circles argument is the idea that users of payment stablecoins are not purchasing them with the expectation of making a profit. Instead,