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The United States Securities and Exchange Commission has clarified its stance on dollar-backed stable cryptocurrencies, stating that “covered” stablecoins are not securities. This move represents another step toward a clear crypto regulatory landscape in the US.
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On Friday, April 4, the SEC took a formal position on dollar-backed stablecoins. The agency declared in an official statement that covered stablecoins, such as Tether’s USDT and Circle’s USDC, are not securities that fall under their regulatory purview.
According to the US regulator, covered stablecoins refer to crypto tokens designed and marketed as a means of payment, transmitting money, or storing value. These stablecoins maintain
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