Crypptop KOL Andrew @AP_Abacus said on Twitter that the US Securities and Exchange Commission (SEC) has reportedly been monitoring Circle's exposure to at-risk banks, particularly Silicon Valley Bank.
According to a source, the SEC believes that the USDC stablecoin is a security and further actions can be expected in the upcoming weeks.
UPDATE: The SEC was very aware of @circle’s exposure to at risk banks and specifically, Silicon Valley Bank.
— Andrew (@AP_Abacus) March 11, 2023
SOURCE: “The SEC absolutely believes that USDC is a security… expect further action in the weeks to come.”
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