Stablecoin issuer Circle is ramping up hiring ahead of a potential IPO. New documents obtained by Barron’s reveal the SEC’s concerns regarding Circle’s USDC stablecoin, particularly around whether USDC should be considered a security and if Circle should be classified as an investment company. The documents, spanning 155 pages, were obtained via a public records request. These concerns could complicate Circle’s IPO plans. Despite these challenges, Circle’s USDC stablecoin may benefit from new European guidelines governing digital assets set to take effect in July, according to Kaiko Research.