TechFlow news: Stablecoin issuer Circle has intervened in the U.S. Securities and Exchange Commission's (SEC) case against Binance, arguing that financial securities laws should not apply to stablecoins whose value is pegged to other assets.
Circle contends that dollar-pegged assets such as BUSD and USDC cannot constitute securities, partly because users do not expect to earn profits from their purchases.
In its filing, Circle stated that payment stablecoins themselves lack the essential characteristics of an investment contract, meaning they fall outside the jurisdiction of the SEC.
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