Judge granted Circle an amicus curiae status in Binance vs. SEC legal dispute.
Circle can offer its perspective on the case without bias.
Permission is required from the court for Circle to participate in oral argument.
Circle, the issuer of the USD Coin stablecoin, has been granted by the court as the amicus curiae in the ongoing legal dispute between the world’s largest exchange, Binance, and the U.S. Securities and Exchange Commission (SEC).
Just a day before the crucial hearing in the SEC vs. Binance lawsuit, United States District Judge Amy Jackson cleared an amicus brief filed by Circle. This development allows Circle to offer its perspective on the case without displaying bias toward either Binance or its CEO, Changpeng Zhao. However, Circle can only participate in the oral argument with explicit permission from the court.
Circle filed an amicus curiae or friend of the court brief on September 29 in favor of Binance, arguing that stablecoins like BUSD and USDC should not be classified as securities. A portion of their filing stated, “Payment stablecoins, on their own, do not have the essential features of an investment contract.”
The USDC i…
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