SEC Guidance Update on USD Stablecoins Accounting Rules

The U.S. Securities and Exchange Commission (SEC) has recently updated its guidance for accounting rules related to stablecoins, specifically those pegged to the U.S. dollar. According to Bloomberg, this new guidance indicates that such stablecoins may qualify for cash-equivalent status, as long as they include guaranteed redemption mechanisms and maintain value stability with another asset class. As the SEC continues to develop comprehensive regulations for the cryptocurrency market, this interim guidance aligns with Chair Paul Atkins' initiative to reduce restrictive practices. For instance, in April, the agency clarified that 'covered' USD stablecoins are not classified as securities and that organizations managing stablecoin issuance and redemption are not required to register these operations with the SEC. In a recent announcement, Atkins introduced Project Crypto, which aims to modernize securities regulations based on proposals from the President’s Working Group report. This project seeks to integrate blockchain technology into America's financial markets. Bernstein's analysis team describes this move as a groundbreaking framework for cryptocurrency regulation by U.S. authorities, which could potentially place the United States at the forefront of global financial innovation. Disclaimer: The Block is an independent media platform providing news and research. As of November 2023, Foresight Ventures holds a majority stake in The Block and invests in other companies within the cryptocurrency sector. Bitget serves as a primary limited partner for Foresight Ventures. The Block operates independently to provide unbiased and relevant information about the cryptocurrency industry. For current financial disclosures, visit our website. © 2025 The Block. All rights reserved. This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other advice.