Cryptocurrency startup Circle intends to obtain a Federal banking license from the United States. In addition, the company plans to register with the securities and exchange Commission (SEC) as a broker and trading platform.
The success in negotiations with the SEC would mean to Circle the ability to trade cryptocurrency assets categorized in the US as securities. It will also help to avoid problems with registration as a cryptocurrency of the company with regulators in all 50 States of the country.
Circle chief compliance officer Robert bench (Robert Bench) has commented that 50 talks to hold heavier than some.
Moreover, in the Circle already stated that the appeal for regulation in the SEC will be preceded by the obtaining of banking license. This decision was made after preliminary discussion with the Office of the Comptroller of the currency.
As noted by the CEO of Circle Jeremy Allaire (Jeremy Allaire), the company may be for regulators “Guinea pig” in the definition of the regulatory framework. This is important because the giants of wall street are increasingly approaching the adoption of cryptocurrencies, said the head of a startup supported by Goldman Sachs.
Circle, offering users the crypto, investment platform and service cryptocurrency OTC trading, in February acquired the crypto currency exchange Poloniex, immediately announcing the expansion of its business in Asia. Investors seem to positively assess the prospects of the Circle, because at the end of the next round of funding, the company raised $110 million.