SEC updates employee guide for USD stablecoin accounting rules, some stablecoins can be considered as cash

According to BlockBeats, on August 5th, the US Securities and Exchange Commission (SEC) has updated its staff guidelines on stablecoin accounting rules. The core content of the new guidelines is that stablecoins pegged to the US dollar may be classified as "cash equivalents" if they have a guaranteed redemption mechanism and their value stability is linked to another type of asset. While the SEC is developing broader cryptocurrency regulatory rules, this latest interim guidance is part of Chairman Paul Atkins' push to lift restrictive measures. For example, in April of this year, the SEC explicitly stated that "covered" US dollar stablecoins are not considered securities and confirmed that entities engaged in stablecoin issuance and redemption business do not need to register with the agency for such activities.