US Stock Market Move | Circle (CRCL.US) surges over 6% as new SEC regulations may open a $75 million "green channel" for cryptocurrency financing.

On Wednesday, Circle (CRCL.US) rose more than 7%, reaching $77.06. In news, on August 18, the U.S. Securities and Exchange Commission (SEC) released a proposal titled "Regulation of Crypto Assets," which will allow crypto projects to raise up to $75 million without full securities registration. The framework establishes a conditional safe harbor mechanism for certain crypto assets, allowing them to be no longer considered securities once they meet specific criteria. On August 19, the Financial Accounting Standards Board (FASB) proposed to classify qualifying stablecoins as "cash equivalents," which is expected to directly benefit Circle's stablecoins, USDC and EURC, from this accounting standard change.