According to CoinMeta, Circle submitted a comment letter to SEC on October 20th to express opinions regarding its proposed "Regulation of Cryptocurrency Assets." The proposal aims to establish a specialized framework for certain cryptocurrency asset issuance and investment contracts. Circle supports the passage of the proposal, arguing that clear rules will promote innovation and maintain the advantages of the U.S. capital market. It emphasizes technical neutrality and suggests that the proposal should be consistent with the "Genius Act." In the letter, Circle requests that SEC clarify that compliant payment stablecoins can be considered "cash," enjoy dollar valuation, and appropriate accounting treatment. It also proposes to reduce the brokerage dealer discount from 2% to zero, and suggests establishing a technical roadmap for a safe harbor.