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Circle denies blaming SEC for shuttered $9B plan to go public

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cointelegraph.com

A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.The stablecoin issuer representative was responding to a Jan.

25 Financial Times article which characterized Circle as having “blamed” the securities regulator for its “derailed” listing as a result of dragging its feet on the approval of a merger agreement.However, a Circle spokesperson clarified to Cointelegraph that was not the case and that it doesn’t hold any blame over the SEC for the termination of its merger agreement.

Circle’s listing on the New York Stock Exchange (NYSE) was pegged on them being able to combine with Concord, a company set up by banker Bob Diamond via a Special Purpose Acquisition Company arrangement, also known as a SPAC deal.

However, according to the FT, Circle said the merger failed to be consummated as a result of the SEC not declaring the related S-4 registration effective in time, which would cause the agreement to lapse on Dec.

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