Rumors swirled on Twitter that the stablecoin issuer received a litigation notice from the U.S. securities regulator but a Circle executive rebuffed the claim.
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USD Coin (USDC) issuer Circle has denied rumors that it received a “Wells Notice” over its United States dollar-pegged stablecoin.
On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission (SEC) to cease the sale of USDC – due to the stablecoin being an unregistered security.
Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle Pay clarified on Twitter just 15 minutes after Terrett’s tweet that his firm has not received a Wells Notice.
.@circle has not received a Wells notice. https://t.co/lE74zHVLka
– Dante Disparte (@ddisparte) February 14, 2023
In a follow-up tweet, Dante told Terrett that her apology is accepted, adding:
“Alas, there is a lot of churn, swirl and rumors informing the market right now.”
The original tweet from Terrett has since been deleted. Her account on Twitter has been deleted as well.