{"id":299033,"date":"2023-02-14T22:39:41","date_gmt":"2023-02-14T22:39:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=299033"},"modified":"2023-02-15T01:00:00","modified_gmt":"2023-02-15T01:00:00","slug":"circle-denies-that-sec-sent-any-wells-notice","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/circle-denies-that-sec-sent-any-wells-notice\/","title":{"rendered":"Circle denies that SEC sent any Wells notice"},"content":{"rendered":"

Circle, which issues the USDC stablecoin, has denied that it has received a Wells notice. That denial was recorded in a tweet by CSO Dante Disparte on Feb. 14<\/a>.<\/p>\n

Disparte wrote:<\/p>\n

“Circle has not received a Wells notice.”<\/p><\/blockquote>\n

Unsubstantiated rumors emerged earlier today suggesting that U.S. Securities and Exchange Commission had sent a Wells notice to Circle. The serving of such a notice would mean that the regulator plans to begin enforcement against the company.<\/p>\n

Those rumors were primarily spread by FOX Business reporter Eleanor Terret, whose account has since been removed from Twitter. Terret said:<\/p>\n

I went with the word of several trusted sources on this. I apologize for the mistake.<\/p><\/blockquote>\n

Another Twitter account operating as AP_Abacus<\/span> was also tagged in Terret's original tweet. Though AP_Abacus previously suggested that Circle faced regulatory action from the SEC based on his own private sources, it is unclear whether Terret tagged AP_Abacus to cite him as a source or to provide further backing to his statements.<\/p>\n

Circle's denial does not necessarily mean that the SEC will not begin enforcement against the firm \u2014 but it seems to make that possibility less imminent.<\/p>\n

The rumors appear to have been prompted by recent NYDFS action against Paxos, which forced the company to halt the issuance of its Binance USD (BUSD) stablecoin<\/a>. Paxos may also face action from the SEC as it has reportedly received a Wells notice.<\/p>\n

Correction: Updated to reflect that the SEC has not yet taken action against Paxos.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Circle, which issues the USDC stablecoin, has denied that it has received a Wells notice. That denial was recorded in a tweet by CSO Dante Disparte on Feb. 14. Disparte wrote: “Circle has not received a Wells notice.” Unsubstantiated rumors emerged earlier today suggesting that U.S. Securities and Exchange Commission had sent a Wells notice […]<\/p>\n","protected":false},"author":1403,"featured_media":247610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,11,32631],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nCircle denies that SEC sent any Wells notice<\/title>\n<meta name=\"description\" content=\"USDC issuer Circle has denied that it has received a Wells notice. 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