Stablecoin Operator Circle Points Finger At SEC For Abandoned $9B SPAC Deal

Stablecoin issuer Circle (CRYPTO: USDC) has stated that the Securities and Exchange Commission is to blame for the failure of its $9 billion plans to go public through a SPAC deal. What Happened: The group abandoned listing plans in December, telling the Financial Times that the deal fell through not because of the volatility in the crypto markets last year, but instead because the SEC had not approved what would have been one of the largest deals ever involving a Special Purpose Acquisition Company.