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0 -0.00233615355474179 -0.0020835964136885 6.31392852634128E-05 0.0025887106957949 -0.00239929284000502 -0.00239929284000502 -0.00239929284000502
Stock impact report

SEC clarifies that most stablecoins are not securities [CNBC]

Coinbase Global, Inc. - Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: CNBC
Specifically, the agency's Division of Corporate Finance refers to stablecoins that are “designed to maintain a stable value relative to the United States Dollar, or ‘USD,' on a one-for-one basis, can be redeemed for USD on a one-for-one basis … and are backed by assets held in a reserve that are considered low-risk and readily liquid with a USD-value that meets or exceeds the redemption value of the stablecoins in circulation” – which it calls “covered stablecoins.” “It is the Division's view that the offer and sale of Covered Stablecoins, in the manner and under the circumstances described in this statement, do not involve the offer and sale of securities,” the SEC said. The clarification comes as the stablecoin sector of crypto on increasing optimism that Congress will pass its first piece of crypto legislation this year, and that it will focus on stablecoins. President has said he hopes lawmakers will send stablecoin legislation to his desk before Congress's August recess. Show less Read more
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