SEC releases new guidance: Some stablecoins may be considered cash equivalents.

According to reports, the U.S. Securities and Exchange Commission (SEC) is further advancing based on preliminary cryptocurrency accounting rules and has released new staff guidance indicating that certain stablecoins can be treated as cash.

As this temporary guidance is issued, the SEC is formulating regulatory rules for encryption securities. Under the leadership of the SEC chairman, the commission has begun to gradually roll back some stricter policies, including accounting guidelines that were previously seen as hindering traditional lending institutions from entering the Crypto Assets market.

According to the latest guidelines, holding certain stablecoins pegged to the US dollar can be classified as cash equivalents if these stablecoins have guaranteed redemption rights and are valued based on another type of asset.