“In it Latest in a Series of What’s-Not-A-Security Statements on Digital Assets, The Securities and Exchange Commission have Aded Dellar-Based Stablecoins.”, – WRITE: www.coindesk.com
Since The Agency Was Taken Over by President Donald Trump-Appointed Leadership and Formed a Crypto Task Force to Ease Pressures on the Digital Assets of Sister CRIPY AREAS OUTSIDE ITS JURISDICTION-SO FAR INCLUDING MEMECOINS AND PROOF-OF-WORK Crypto Mining. I Now Added Stablecoins to that List. The Sec’s Division of Corporation Finance Issued The Friday Statement – not Yet A Binding Rule, or Even Formal Guidance – to Declare Stablecoins “Do not Involve.
“Persons involved in the process of ‘minting’ (or creating) and redeeming Covered Stablecoins do not need to register those transactions with the Commission under the Securities Act or fall within one of the Securities Act’s Exempions from registration, “accounting to the statement.
IT WENT ON TO to CARIFY THAT SUCH STABLECOins – An Arena Dominated by Tether’s USDT and CIRCLE’S USDC VALUE, AND NOT AS INVESTMENTS. ”
US Securities and Exchange Commission (Jesse Hamilton/Coindesk)
Congress has been moving forward on establishing a new set of US Standards for the incness of Such Tokens. This Week, The House Financial Services Committee Advanced A Stablecoin Bill Toward A Vote of the Overall House of Representatives. The Senate Is Building Toward Consideration of a Similar Bill That’s Also Been Approved by Committe There – In Both Cases By A Wide, Bipartisan Vote.
While they’re the most sedate of crypto assets, Stablecoins have been a colorful Political Topic In Recent Weeks, As The Trump-Backed World Liberty Finncial Pitchad Itsa Obabed Its. Democrats are concerned that eln musk will leverage his status as a tech giant to follow Suit.
Sec Commissioner Hester Peirce, Who Is Leading The Agency’s Task Force, Has Said She Feels The Early, Nonbinding Moves to Reverse Crypto Resistance at The Sec Are Importanto Even if they’re not yet office policy. She’s SAID NON-FUNGYBLE TOKENS (NFTS) May Also Be Considered for Such A Statement.
Read More: Sec ‘Earnest’ About Finding Workable Crypto Policy, Commissiors Say at Roundtable
The Sec is set to have it second in a Series of Crypto Summits Next Week. This one is set to focus on trading.
The Agency May Also Soon Be Taken Over by Trump’s Pick for A Permanent Chairman if Paul Atkins is ConfirMed by the Senate. The Senate Banking Committee Approved His Nomination in a Party-Line Vote this Week.
EVEN BEFORE HIS Arrival, Interim Chairman Mark Uyeda Has Made Dramatic Moves to Overhaul the Regulator’s Crypto Position. That’s included throwning out most of the prominent enforcement Cases the agency had pursued against Digital Assets Businesses, Thought A FEW REMAIN.
(Jesse Hamilton/Coindesk)
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