$USDC : Circle wants SEC to erase a costly Wall Street rule holding stablecoins back
━━━━━━━━━━━━━━━━━━━━
• The USDC issuer is targeting a 2% regulatory capital haircut that reduces the recognized value of qualifying stablecoin holdings by $20 million per $1 billion.
• Circle is urging the US Securities and Exchange Commission (SEC) to treat regulated stablecoins like cash across securities markets, potentially expanding USDC's institutional adoption.
• The USDC issuer outlined its proposals in an Oct.
• 20 letter requesting changes to how qualifying stablecoins are treated in securities fundraising, brokerage capital calculations, and customer reserve accounts.
#USDC #Regulation
Source - CryptoSlate
━━━━━━━━━━━━━━━━━━━━
• The USDC issuer is targeting a 2% regulatory capital haircut that reduces the recognized value of qualifying stablecoin holdings by $20 million per $1 billion.
• Circle is urging the US Securities and Exchange Commission (SEC) to treat regulated stablecoins like cash across securities markets, potentially expanding USDC's institutional adoption.
• The USDC issuer outlined its proposals in an Oct.
• 20 letter requesting changes to how qualifying stablecoins are treated in securities fundraising, brokerage capital calculations, and customer reserve accounts.
#USDC #Regulation
Source - CryptoSlate
