Chiara Bianchi
The US Securities and Exchange Commission (SEC) has introduced updated staff guidance that could reshape the way USD-backed stablecoins are treated in financial accounting.
According to Bloomberg, the SEC now indicates that certain stablecoins pegged to the U.S. dollar may be recognized as cash equivalents — provided they include guaranteed redemption mechanisms and demonstrated value stability. This move marks a potential breakthrough in regulatory clarity for digital asset firms.
Why This Matters for Crypto and Traditional Finance
While comprehensive crypto legislation remains in development, this interim guidance reflects a strategic shift led by SEC Chair Paul Atkins to ease outdated restrictions. Notably, the agency had already clarified in April that qualified USD stablecoins are not considered securities, and issuers or redeemers of these assets do not need to register with the SEC.
Enter: Project Crypto – SEC’s Vision for On-Chain Finance
This announcement follows the launch of “Project Crypto” last week, a bold initiative aimed at modernizing financial regulations and paving the way for blockchain-based markets. The project draws heavily from the President’s Working Group on Financial Markets and is designed to bring regulatory coherence to the crypto space.
Analysts See Historic Momentum
Leading market intelligence firm Bernstein described the SEC’s actions as a “groundbreaking step” toward establishing a regulatory framework that positions the United States at the forefront of global financial innovation. The new direction could offer much-needed certainty for crypto businesses, investors, and institutions navigating the evolving digital economy.
