Circle: The SEC is Not The Reason for Termination of Our Agreement with Concord Acquisition

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According to representatives of USDC issuer Circle, the Securities and Exchange Commission (SEC) has not caused Circle to terminate its agreement with Concord Acquisition as part of the SPAC merger.

They have explained:

“We never expected the SEC registration process to be quick and easy.”

The company has reacted to a publication made in The Financial Times according to which the position of the SEC was the main reason for abandoning plans to enter the stock market.

Recall that the company has failed to obtain regulatory approval 15 months after filing the relevant application.

Circle announced in July 2021 that it would become a public company through a reverse merger with Concord Acquisition.