TechFlow, Aug 5 — According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has released new staff guidance clarifying that certain stablecoins may be treated as cash. The guidance serves as an interim measure while the SEC develops regulatory rules for crypto securities.
Under current Chair Paul Atkins, the SEC has begun easing its previously stricter policies, including revising accounting guidelines that were once seen as barriers preventing traditional financial institutions from entering the cryptocurrency market.
Per the latest guidance, dollar-denominated stablecoins with guaranteed redemption rights and pegged to other asset classes may be classified by holders as cash equivalents.
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