Circle says the SEC won't go after pre-acquisition action

A confidential Circle presentation is doing the rounds on Twitter after today's acquisition of Poloniex. It says the SEC informally indicated to Circle that regulators would "not pursue any enforcement action for prior activity" at Poloniex as long as Circle cleans up Poloniex and turns it into a regulated exchange.

For crypto, I take this is a good news. It shows the SEC is more interested in building well-regulated marketplace than shutting it down.