The SEC of the United States has issued guidance on stablecoins, stating that "regulated stablecoins" are not securities.

The SEC issues guidance on stablecoins, stating that “regulated stablecoins” are not securities. The Corporate Finance Division of the U.S. Securities and Exchange Commission (SEC) has just released guidance on stablecoins. The organization has created a new term - “Covered Stablecoins,” referring to those that “maintain a stable value of 1:1 relative to the US dollar, can be exchanged at a 1:1 ratio for US dollars (that is, one stablecoin can be exchanged for one US dollar), and are backed by assets held in reserves that are low-risk, highly liquid, and have a US dollar value equal to or greater than the redemption value of the circulating stablecoins.” The department stated that “regulated stablecoins” are not offered or sold as investment contracts, and those involved in the “minting” and exchange processes are not required to register transactions with the commission, thus falling outside the jurisdiction of the SEC. The Block analysts noted that USDT and USDC fall under the category of “regulated stablecoins.” This statement does not cover algorithmic stablecoins, yield-bearing stablecoins, or stablecoins that track the value of assets other than the US dollar.