The US SEC declared that dollar-backed stablecoins are not securities as per federal law.
Stablecoin issuers do not need to register stablecoin mint and redeem transactions under the Securities Act.
The US government is speeding up its process of regulating the crypto space. It’s only been a couple of days since the STABLE Act was passed to regulate stablecoins. Today, the SEC came up with another announcement, which is also a major reform to stablecoin regulation.
The latest Bloomberg article reports that the US SEC ruled that dollar-backed stablecoin is not a security. They don’t need registration before issuance like traditional securities. This brings clarity to the confusion of which cryptocurrencies are securities and which are not.
David Sacks took the same matter to his official X account and confirmed the news. Fully-reserved, liquid, and dollar-backed stablecoins are not considered securities from now on. This also makes it clear that stablecoin mi
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