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The orders to pass the pending motion come just a day before the key hearing between Binance and the SEC on Oct. 12. United States District Judge Amy Berman Jackson of the District Court for the District of Columbia has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against crypto exchange Binance ahead of a crucial hearing. Among the key orders, Jackson cleared an amicus brief filed by USD Coin (USDC) issuer Circle before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs. Binance lawsuit, arguing that assets pegged to the U.S. dollar, such as USDC, are not securities. Circle, at the time, Circle said that buyers of these stablecoins do not expect any profit from acquiring them. According to Circle, payment stablecoins do not have the “ Features of an investment contract” on their own. Jackson accepted Circle as amicus curiae in support of neither Bi...

Also Read: SOL Price Prediction: Bulls Poised For New Rally, Solana Strengthens Technical Outlook advertisement The USDC Ecosystem Boost Faisal Khan, a crypto influencer, revealed that Circle is going to publish something that reveals details on boosting the USDC ecosystem. This could be a report bringing more transparency to the stablecoin audits and the reserve funds, or a new announcement that could involve a Coinbase-like deal. According to the influencer, Circle Co-founder and CEO Jeremy Allaire will soon publish the USDC update. @jerallaire Going to publish something that you would love for the boost of the USDC ecosystem. Will be sharing the details with you very soon. @Jay_SpendDBits — Faisal Khan (@babushka99) September 4, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

This week's Crypto Biz explores the latest on Binance's global on-ramps and off-ramps, Coinbase-Circle re -alignment , Shopify's take on USDC and China's blockchain data exchange. Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States. In the latest developments, Coinbase and Circle decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly as an anticipation of upcoming legislation coming from the U.S. Congress. A legal alternative to remaining operational was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as its new “base asset” for all transactions, allowing a path for users to transact in U.S. dollars while possibly sidestepping potential re...

The failure of the U.S. banking system took a toll on the prominent stablecoin USDC. As the asset lost its peg, its issuer, Circle noted that its reserves backing USDC were stuck at the Silicon Valley Bank. Despite this setback, the firm did not stop making progress. More recently, it was brought to light that Circle is seeking a license to enter the European market. The stablecoin issuer Circle has submitted applications to become a licensed e-money provider in France , as well as to register as a crypto provider. If the registration is successful, Circle will be allowed to sell its products to clients in France and “onshore” its stablecoin EUROC, according to the release. The firm is aiming to acquire a DASP registration. Companies that register must go through inspections on governance and anti-money laundering procedures in order to enter the French market. Additionally, the stablecoin issuer stated that it wants to establish France as a base for its expanded activities in ...