US Wants to Regulate Stablecoins First

US Wants to Regulate Stablecoins First
It’s recently come to light that the U.S. Securities and Exchange Commission is investigating Circle, a principal backer of the popular USDC stablecoin. CoinDesk’s Danny Nelson broke the story by combing through filings Circle made in preparation of possibly going public. The scope of the watchdog’s investigation, which began last summer, is unknown. Ironically, though, news of the “investigative subpoena” comes at a time when USDC has never been less risky.In its latest attestation from accounting firm Grant Thornton, Circle disclosed that it has divested itself of all but a few of its “corporate bonds, long-dated commercial paper, Yankee certificates…