Express
US SEC Issues Interim Guidance on Stablecoin Accounting Treatment
Summary: According to Bloomberg, the US Securities and Exchange Commission (SEC) is advancing further on preliminary cryptocurrency accounting rules by issuing new staff guidance, stating that certain stablecoins can be treated as cash equivalents. As this interim guidance is released, the SEC is developing regulatory rules for crypto securities. Under the leadership of SEC Chairman Paul ...
According to Bloomberg, the US Securities and Exchange Commission (SEC) is advancing further on preliminary cryptocurrency accounting rules by issuing new staff guidance, stating that certain stablecoins can be treated as cash equivalents.
As this interim guidance is released, the SEC is developing regulatory rules for crypto securities. Under the leadership of SEC Chairman Paul Atkins, the commission has begun gradually rolling back some stricter policies, including accounting guidance previously seen as hindering traditional lending institutions from entering the crypto market.
According to the latest guidance, holding certain stablecoins pegged to the US dollar, if these stablecoins have guaranteed redemption rights and are pegged to another type of asset, can be classified as cash equivalents.
