Circle has appealed to the U.S. Securities and Exchange Commission (SEC) to categorize qualifying payment stablecoins as cash in its proposed cryptocurrency fundraising regulations.
In a recent comment letter detailed in their October 28 blog, Circle requested the SEC to eliminate the 2% capital haircut imposed on broker-dealers holding stablecoins, advocating for a zero haircut instead.
This move underscores Circle’s push for regulatory clarity and support for stablecoins in the evolving digital asset landscape.