SEC Commissioner says the organizational agency greatly reduces the risk of the Stablecoin market in US dollars
The US Securities and Stock Exchange Commission (SEC) says that the agency is not realistic about the full range of the risks that Stablecoins can form for retail owners.
In a new statement, Commissioner Caroline Crinko He says SEC’s latest announcement on the corpse of dollars, which “greatly reduces the risks of the Stablecoin Market in US dollars.
According to Crenshaw, retailers usually reach Stablecoins across mediators. However, you notice that the brokers do not have a legal commitment to restore Stablecoins, a risk to investors.
“These are [stablecoins] It can only be recovered through the broker. If the mediator is unable or unwilling to recover Stablecoin, the contract holder will not have against the source.
The role of brokers, especially unregistered trading platforms, as the main distributors of the USD-Stablecoins puts a set of great risks that employees do not consider.
Crenshaw goes on that Stablecoin’s retail users do not have the Retainment Rental SEC. The Commissioner notes that retail entities cannot reach Stablecoin’s reserves, which leaves them to accept the market price determined by a mediator.
“The fact that the brokers are dragging most of the retail trade. [the SEC] It depends on “Features of risk reduction.
The key is among these features is the source of source assets reserves that employees describe as designed to meet full salvation obligations.
But in general, as shown above, the exporters do not have “salvation obligations” for retail holders. These holders or the right to reach the source reserves do not matter. If they recovered the coins across a broker, they will be paid by the mediator, not from the source reserve.
The broker is not obligated to recover a currency of $ 1, and instead the market owner will pay the market price. Therefore, the owners of metal currencies do not have a retail, as the employees claim, “the right” to “redemption for the US dollar on one to one basis.”
Earlier this week, the Supreme Education Council announced that the non -carrier stablecoins does not qualify as securities that fall under its jurisdiction, but the agency has not yet designed views on alternative types of stablecoins, such as those that are eligible for return, from algorithms, or wandering in other than USD assets.
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