Circle Seeks SEC Recognition, US Banking License

It appears that Circle has been very busy lately. Months ago, Circle announced their launch of “Circle Invest”, a simple market buy/sell platform similar to Coinbase. Which coincided with their purchase of popular crypto exchange Poloniex.

Now, the ever ambitious Circle Company is seeking a blessing from the SEC to operate as a bona fide securities exchange. The move seems to indicate that the firm believes that cryptocurrencies will be classified as securities in the eyes of the law.

Additionally, Circle is seeking a US banking license. The license would allow Circle to hold reserves with the Federal Reserve, and allow more direct access to the central-banking system. The firm indicates that this licensure would create opportunities to work closely with financial institutions without the use of intermediaries.

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