Circle Denied: The US SEC Did Not Send Wells Notice to Company
Key Points:Circle CSO denies that the company received a Wells Notice from the US SEC. This is fake news.
The “Wells Notice” is an informal reminder sent by the US SEC prior to civil action to US-listed businesses.
After Paxos’s order to stop issuing BUSD, the market became chaotic.
US Fox Business reporter Eleanor Terrett tweeted early this morning that the US Securities and Exchange Commission (SEC) has issued a Wells notice to US stablecoin companies, including Circle, asking them to stop selling unregistered securities.Reportedly, the “Wells Notice” is an unofficial reminder issued by the US SEC to US-listed companies before civil litigation. Companies that have been notified can contact the SEC and negotiate before they are subject to a formal lawsuit. Terrett also deleted the tweet shortly thereafter, claiming he had taken information form several trusted sources. He also apologized to Disparte. The overall market is now vulnerable because stablecoin BUSD was ordered to cease minting. BUSD was a strong stablecoin previously in trading pairs on Binance. Binance used to trade pairs with BUSD, making it a very strong stablecoin. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comFoxyCoincu NewsTags: # Cryptocurrencies#MarketsBinanceBlockchainBUSDCirclecryptoSECWells notice