• The crypto community is still reeling from the latest regulatory tension in the industry due to enforcement actions taken by U.S. regulators on some crypto firms, such as Kraken and Paxos.
• Rumors have been circulating about a possible enforcement action against other stablecoins, such as USDC, and their issuers.
• Circle Counters Rumors Of Wells Notice From The SEC: Dante Dispaerte, the Chief Strategy Officer and Head of Global Policy at CirclePay debunked rumors that Circle had received a Wells notice from the SEC.
Regulatory Tension in The Crypto Industry
The crypto community is still struggling with fear, doubt, and uncertainty (FUD) from the latest regulatory tension in the industry since U.S. regulators have taken enforcement actions on some crypto firms. Firstly, the Securities and Exchange Commission struck Kraken with a fine and halted its staking program. Also, the NYDFS and SEC have been on Paxos, the issuer of Binance USD stablecoin.
Rumors of Enforcement Action Against Other Stablecoins
Rumors have been flowing about the possible enforcement action on other stablecoins and their issuers. Some fingers pointed at USDC as the SEC’s latest target. But the issuer of the stablecoin, Circle, debunks such rumors against them.
Circle Counters Rumors Of Wells Notice From The SEC
On February 15th , Dante Dispaerte, the Chief Strategy Officer and Head of Global Policy at CirclePay debunked rumors that Circle had received a Wells notice from the SEC concerning its management and issuance of USDC, a stablecoin.. At this time of writing ,the journalist who posted it deleted it . Total USDC market cap rests at $41 . 2 billion l Source : Tradingview . com
Fox News Journalist Apologizes For Wrong Post
The journalist Eleanor Terrett took to Twitter to apologize for her first wrong post concerning Circle stating that it was an error . She admitted trying to set things right by apologizing publicly . Though she has admitted her mistake ,the FUD is already spreading across several reactions among members in Crypto Community citing their panic sell-off of Stable coin .
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In response tweet , one Twitter user who goes by @MotownCrypto reported selling off all USDC tokens due to those rumors which ended up being wrong but BitStarz Player Lands $ 2 , 459 , 124 Record Win ! Could you be next big winner ? 570 % up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day only at Wild . io Play Now !