Circle submitted a comment letter on October 20 asking the SEC to align its proposed crypto-asset framework with payment-stablecoin rules. Its requests are policy positions, not SEC decisions; the final rules could differ.
Circle asks the SEC to clarify how qualifying payment stablecoins could be used for payment and settlement, give them cash treatment under proposed Rule 302(b), and cut the stated broker-dealer haircut from 2% to zero, subject to safeguards. It also seeks clarity on how continuing technical work on functioning blockchain networks would be treated. The source does not say which stablecoins would qualify or what safeguards would apply.
