Circle, a stablecoin issuer, has stepped into the legal battle between the Securities and Exchange Commission (SEC) and Binance. Circle is arguing that stablecoins, whose value is tied to other assets, should not be subject to traditional financial trading laws. This case is seen as a pivotal moment in the crypto-legal world, as it highlights the industry’s collective effort to advocate that existing rigid U.S. financial laws are not suitable for governing cryptocurrencies.Circle maintains that dollar-tethered assets such as BUSD and its own USDC cannot be classified as securities, as their users have no expectation of profits from standalone purchases. Binance, along with its U.S. arm and owner Changpeng “CZ” Zhao, has filed a motion to dismiss the case, arguing that the SEC is overstepping its bounds. The SEC, however, claims that BUSD was marketed as an investment contract, given Binance’s reward programs. This case is a major milestone in the crypto-legal world, as it highlights the industry’s collective effort to advocate for more suitable regulations for cryptocurrencies.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	FAC, FINRA, SEC, Changpeng “CZ” Zhao
Companies	Binance, Securities and Exchange Commission (SEC), FINRA, Cardano, Circle, Solana, FAC, Coinbase
Currencies	Bitcoin, BUSD, Cardano, Ethereum, Solana
Securities	None