Circle urges SEC to treat regulated stablecoins as cash in securities markets

Circle has asked the U.S. Securities and Exchange Commission to allow regulated stablecoins to be treated as cash for broker-dealer capital calculations and reserve accounts. The request follows the SEC's proposed Regulation Crypto Assets and aims to expand institutional adoption of USDC by removing a 2% capital requirement and clarifying that compliant stablecoins can be used in customer reserve accounts.