According to a new mandatory filing by Circle – the company behind one of the largest stablecoins USDC – the company is under investigation from the United States Securities and Exchange Commission.
- It appears that the regulatory scrutiny strengthens, and stablecoin issuers are also under the radar of legislators.
- In a recent filing, Circle, the company behind the world’s second-largest stablecoin by means of total market cap, revealed that it has received a subpoena from the SEC back in July.
In addition, in July 2021, we received an investigative sobpoena from the SEC Enforcement Division requesting documents and information regarding certain of our holdings, customer programs, and operations. We are cooperating fully with their investigation.
- The filing gave no reason to worry, but it also didn’t reveal what’s the focus of the investigation.
- The document also reiterates the matter between the SEC and Poloniex – the popular cryptocurrency exchange and also a subsidiary of Circle.
- Poloniex agreed to pay a civil monetary penalty, disgorgement, and prejudgment interest worth around $10.4 million for failing to register as a national securities exchange.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
Credit: Source link
ADVERTISEMENT
