Recently, the United States has taken a big step that could reshape the Stablecoin market. In one of its clearest data so far, the agency said that some stablecoins now called “covered stablecoins” may not be considered securities, as long as they meet strict conditions.
This update already raises industry reactions, as it was reported that Tether is studying a shift in the strategy to comply with new SEC guidelines.
“Covered and covered stablecoins is not marketed as investments; instead, it is marketed as a stable, fast, reliable and accessible way to transfer value or value storage and not for possible profit or as investments.”
The new SEC instructions explain what makes Stablecoin “Cablecooin Covered”, which means that it may not be dealt with as a guarantee. It is worth noting, to meet the standards, Stablecoin must be fully supported 1: 1 by the US dollar, it must be supported by low -risk and liquid assets and must be recovered with full value at any time,,,
It is important, these symbols cannot prepare profits, pay interest, provide voting rights, or represent ownership. They should only be used for payments, transfers, or value storage, not as investments.
Since these stablecoins are sold as “digital dollars” and not as investments, SEC says they do not consider securities under American law. This is a rare clear step from the Supreme Education Council, which usually takes a dark or heavy position on encryption.
Mixed reactions
White House encryption consultant David Sachs to praise This step, which you call long, reduces organizational obstacles for fully supported stability, liquid and dollars. He pointed out that such symbols no longer need registration under the Securities Law.
However, SEC Caroline Crinko criticizeWith warning that the guidelines exaggerate the stablecoin market and distort the main legal concerns. She said it reduces the risks and provides a misleading image of how these symbols already work.
Enhance the SEC USDC rules, but click Usdt
The new stablecoins such as USDC helps, but create concerns about the USDT of Tether. This is because SEC does not allow Stablecoins with support from Crypto or Gold – both part of USDT reserves.
Forbes Nina Bambysheva correspondent has participated in Tether studying new Stablecoin following the US bases. The new currency will only be supported by the American exchange and cabinet, which is a major transformation of the paper because it faces more organizational pressure.
Moreover, the Novacula Occami also noted that the use of Tether for Bitcoin and gold in its reserves may lead to the exclusion of the SEC “Stablecooin” from the SEC, which may be subject to the most striking American stock law.
Tether CEO does not feel very concerned about the possible US ban
Tether is not very concerned about a possible ban by the United States on the current Stablecooin, USDT, according to CTO Paolo Ardoino. The company is already considering planning a new US -based Stablecoinin that would completely comply with the upcoming American regulations.
Erdino said the company is the ideal USDT for emerging markets, but it is open to create a separate Stablecoin specially designed for the US market.
Stablecoins is increasingly witnessed, so that the broader encryption market faces the difficult first quarter. Despite fluctuations, daily use rises. It is worth noting that the Stablecoin market grew by more than $ 30 billion in the first quarter of its life, which indicates a strong demand.
