Circle Internet Group has requested the SEC to eliminate the 2% capital haircut applied to payment stablecoins that comply with the GENIUS Act, arguing these stablecoins should be valued at their dollar amount rather than discounted due to on-chain transactions. This request was made in response to the SEC's proposed Regulation Crypto Assets, which is still under review. Circle also seeks clarification on whether qualifying payment stablecoins can be treated as cash or eligible assets in customer-reserve accounts, and requests coordinated reforms separate from the current crypto-assets regulation proposal. The SEC's broader crypto regulation remains in the proposal stage, so these changes would require further SEC action.
Circle Internet Group's regulatory request is context for readers following crypto markets. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 30, 2026 04:51 WIB: Of 50 major cryptocurrencies, 5 rose and 44 fell. Notable movers include AXS at Rp15.968 with a -8.91% change, BAT at Rp2.362 with -8.84%, and UNI at Rp120.420 with -8.83%. Pluang order activity shows AXS with 43% Sell / 57% Buy, BAT with 86% Sell / 14% Buy, and UNI with 95% Sell / 5% Buy, with typical hold times ranging from 63 to 93 days.
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