Analysis: Tether stablecoin may not belong to the category of "compliant stablecoins" by the U.S. SEC
PANews reported on April 5th, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has issued new rules clarifying that certain stablecoins do not fall within the scope of securities and can be exempted from transaction reporting obligations.
Some analysts believe that the stablecoins covered by the US SEC may not include Tether's stablecoin because related statements indicate that acceptable reserves for stablecoins do not include precious metals or other crypto assets, both of which are included in Tether's reserves. In addition, the US SEC also requires any token to be convertible into dollars at any time, but Tether's terms of service imply there may be a minimum amount conversion or delayed conversion situation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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