Crypto news

SEC Says Stablecoins Are Fine, But What About That Terra Disaster?

BBG News

So, the SEC has decided that certain stablecoins are not securities. Hooray! But what about those algorithmic ones? You know, the ones that almost tanked the entire crypto market in 2022. 🤦‍♂️

Covered Stablecoins Not Securities — But Terra’s Still A Mess

On Friday, the SEC made it official: Tether’s USDT and Circle’s USDC are good to go. But they didn’t say a word about those fancy algorithmic ones that almost turned crypto into a big, digital mess. 😳

According to the SEC, covered stablecoins are just like cash. You know, the kind you can use to buy pizza or pay your rent. But the moment you start playing with supply and demand, things get sketchy. 🤔

It’s the Division’s view that covered stablecoins are not securities.

So, if you’re minting or redeeming these covered stablecoins, you don’t need to worry about the SEC. But if you’re dealing with those Terra ones, you might want to tread carefully. 🚧

US SEC Stance Aligns With Proposed Senate Legislation

It looks like the SEC is on the same page as the US Senate. They both want to keep the US dollar as the global reserve currency. But what about all the people who lost billions on Terra? 🤔

Senator Bill Hagerty introduced a bill to regulate stablecoins under Federal Reserve rules. Tether’s USDT is still the biggest stablecoin, with a market cap of over $144 billion. That’s more than some countries’ GDPs! 🤑

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2025-04-05 20:12

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