USDC Unaffected By Recent Regulatory Action Against Stablecoins, Says Bernstein

A research report by Bernstein suggested the recent regulatory action taken against the Binance USD (CRYPTO: BUSD) stablecoin and its issuer Paxos is specific to BUSD and cannot be applied to other stablecoins like USD Coin (CRYPTO: USDC). What Happened: Some in the industry were concerned that stablecoins and custody rules were under attack, but USDC’s issuer, Circle, stated it had not received any notice from the U.S. Securities and Exchange Commission.