Circle Response to Wells Notice Inquiry

02/15/2023 00:16 • Blockchain Buzz • 115 views

On February 15, Dante Disparte, Chief Strategy Officer and Global Policy Leader of Circle, said in response to the tweet of Fox Business News reporter Eleanor Terrett that Circle had not received the Wells notice.

Circle CSO clarified that the company did not receive the Wells notice from the US SEC

Interpret the above information:

Circle, a blockchain-based financial technology company, made headlines recently with their response to inquiries regarding a Wells notice. Recently, Fox Business News reporter Eleanor Terrett tweeted that Circle had received a Wells notice, which prompted a response from Dante Disparte, the Chief Strategy Officer and Global Policy Leader of the company. He stated that Circle had not received the Wells notice, which was a relief for their shareholders and customers.

Wells notice is a type of notification sent by the US Securities and Exchange Commission (SEC) to individuals or companies when they are under investigation for a possible violation of securities laws. It acts as a warning that the SEC may soon take legal action against the individual or company in question. It is, therefore, a cause for concern as it can lead to negative outcomes for the accused.

Circle has been proactive in ensuring regulatory compliance since its inception. The company has always aimed to operate within the confines of the law while providing innovative solutions for people who want to access cryptocurrencies. Their compliance efforts have led to Circle being one of the few blockchain-based companies to receive a BitLicense from the New York Department of Financial Services.

The fact that Circle has not received a Wells notice indicates that their compliance efforts are working. It shows that they have not engaged in any activity that would warrant an investigation by the SEC, let alone legal action. This news is a testament to their commitment to being a responsible player in the blockchain space.

Furthermore, Circle’s response to the Wells notice inquiry is a sign that they are transparent and communicative with their stakeholders. By responding to Terrett’s tweet in a timely and direct manner, they showed that they are committed to keeping their shareholders informed about important developments related to the company. The response also helped to dispel any speculation or rumors that may have circulated regarding Circle and a possible Wells notice.

In conclusion, Circle’s response to the Wells notice inquiry should be seen as a positive development. It shows that the company is committed to following regulatory requirements, and it demonstrates their transparency and open communication with their stakeholders. It also provides assurance to their customers that Circle is a secure and reliable platform for accessing and using cryptocurrencies.

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Circle Response to Wells Notice Inquiry

Circle CSO clarified that the company did not receive the Wells notice from the US SEC

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