PANews reported on February 24 that according to Bloomberg, Jeremy Allaire, CEO of Circle, the issuer of USDC stablecoin, said in an interview: "I don't think the SEC is the regulator of stablecoins. All over the world, including the United States, governments have made it clear that payment stablecoins are a payment system and banking regulatory activity. There is a reason for this. Although all stablecoins are not equal, from a policy perspective, the unified view of the world is that this is a prudent regulatory space under the payment system."

In addition, Allaire said he generally supports a recent SEC proposal that would include virtual currencies among the assets subject to the "qualified custodian" requirement. "We think having a qualified custodian that can provide the appropriate control structure and bankruptcy protection, etc., is a very important market structure and very valuable," Allaire said.

Earlier news, after the stablecoin issuer Paxos received the Wells notice from the US SEC regarding BUSD, Circle clarified that it had not received the Wells notice.