SEC: Dollar-Pegged Stablecoins Aren’t Securities, Just a Boring Way to Buy Stuff 🙄

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Breaking news from the world of finance, folks! The U.S. Securities and Exchange Commission (SEC) 🕵️‍♂️ has decided that non-yield-bearing stablecoins, like the ones you can use to buy your morning latte ☕️, don’t count as securities. They’re just too boring for that.

In a recent press release, the SEC explained that these stablecoins are more like digital pocket change 💰, used for buying stuff, sending money, or hoarding value, rather than for making big bucks. So, if you were hoping to strike it rich with your stablecoin stash, better think again.

The SEC also mentioned that dollar-pegged crypto assets don’t encourage speculation or investing, which means they’re not exactly the rollercoaster ride 🎢 you might be looking for in the crypto world.

“Covered stablecoins are marketed solely for use in commerce, as a means of making payments, transmitting money, and/or storing value, and not as investments.” Translation: These things are about as exciting as watching paint dry 🌈.

But wait, there’s a twist! The SEC hasn’t ruled out the possibility that other types of stablecoins, like yield-bearing ones, algorithmic varieties, or those pegged to non-USD assets, could still be considered securities. They’re just playing hard to get.

Under the previous administration, the SEC had a bit of a love-hate relationship with crypto companies, filing lawsuits left and right 🏹 and being stingy with approvals for Bitcoin-based ETFs. But now, with a new sheriff in town, we’ll have to wait and see what happens next.

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2025-04-05 23:01