False alarm: Circle has not received a Wells notice claiming USDC is a security.
) issuer Circle has denied rumors that it received a"Wells Notice" over its United States dollar-pegged stablecoin.
On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission to cease the sale of USDC — due to the stablecoin being an unregistered security. Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle Pay clarified on Twitter just 15 minutes after Terrett's tweet that his firm has not received a Wells Notice.
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