Amid the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, a significant development has emerged involving Circle, the issuer of stablecoin USD Coin (USDC). Circle has been granted permission to provide its perspective on the lawsuit as an amicus curiae, or “friend of the court.” District Judge Amy Berman Jackson accepted Circle’s argument that stablecoins, including USDC, should not be classified as securities because they are primarily used as a medium of exchange and not for investment purposes. However, Circle’s participation in oral arguments will require explicit permission from the court. This development comes after crypto research firm Paradigm also filed an amicus brief opposing the SEC’s lawsuit against Binance, accusing the commission of governmental overreach. Binance has already taken action by filing a joint motion to dismiss the lawsuit.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Amy Berman Jackson, Changpeng Zhao
Companies	US Securities and Exchange Commission (SEC), Paradigm, Binance, Circle, USD Coin (USDC)
Currencies	US Dollar
Securities	None