Circle, the company behind the USDC stablecoin, has been under investigation by the U.S. Securities and Exchange Commission (SEC) since July 2021, according to the company’s regulatory filings.
“In July 2021, we received an investigative subpoena from the SEC Enforcement Division requesting documents and information regarding certain of our holdings, customer programs, and operations,” the company said.
“We are cooperating fully with their investigation,” Circle added.
In August, Circle and the SEC faced off for a second time in the summer, with the stablecoin-backer agreeing to pay the regulator over $10 million after Poloniex—a former subsidiary of the company—operated as a digital asset exchange without the requisite permissions.
Decrypt has reached out to both Circle and the SEC for comment on the investigation, and we will update this article should we receive a response from either party.
U.S. regulators eye stablecoins
This is not the first time the SEC has
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