Circle Submits Comments on Crypto Asset Rules to the SEC
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On November 3, 2026, Circle submitted comments to the U.S. Securities and Exchange Commission (SEC), supporting technology-neutral rules for on-chain capital formation. Circle recommended clarifying that permissionless institutional networks using permitted validators may be used to issue, transfer, and settle regulated crypto assets; it also recommended that the proposed Regulation Crypto Assets remain consistent with the GENIUS Act, clarifying the use of compliant payment stablecoins in capital formation, as well as related accounting and customer reserve treatment. Circle further recommended reducing the 2% haircut applicable to such stablecoins for broker-dealers to zero.
AI-written from reports · updated 10 hours ago
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- PYMNTSCircle Urges SEC to Protect Permissionless Institutional Networks
Circle submitted comments to the SEC supporting technology-neutral rules for on-chain capital formation and recommending that it clarify that permissionless institutional networks using permissioned validators may be used to issue, transfer, and settle regulated crypto assets. Circle also recommended aligning the proposed Regulation Crypto Assets with the GENIUS Act, clarifying the use of compliant payment stablecoins in capital formation as well as their accounting and customer reserve treatment, and reducing the 2% haircut for broker-dealers on these stablecoins to zero.
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