The U.S. Securities and Exchange Commission (SEC) has released a new clarification regarding the accounting of stablecoins pegged to the U.S. dollar. From now on, a number of such digital assets can be classified as cash equivalents, opening new opportunities for companies in the field of financial reporting.
This is reported by Finway
Details of the SEC’s New Clarification on Stablecoins
According to the SEC’s temporary guidance, USD stablecoins that have a guaranteed redemption mechanism and a stable peg to a fiat asset, particularly the dollar, can be accounted for as cash. This significantly simplifies the financial reporting for companies that hold such digital assets. Previously, similar rules were absent, and traditional financial institutions faced regulatory barriers to entering the crypto market.
This step by the SEC is part of a broader strategy to establish a modern regulatory framework for digital assets. Under the leadership of Paul Atkins, the commission is gradually easing restrictions for market participants, facilitating the integration of cryptocurrency into the traditional financial sector. In April 2025, the SEC confirmed that “covered” stablecoins backed by dollar reserves are not securities, and their issuers are not required to register token redemption transactions.
Regulatory Progress and Market Impact
As noted in the SEC’s clarification, it serves as a “technical bridge on the way to a comprehensive regulatory framework that will allow the integration of digital assets into traditional financial markets.”
Changes in the SEC’s approach are occurring against the backdrop of the enactment of the federal GENIUS Act — the first regulatory act in the U.S. governing the issuance of stablecoins. The document, signed by President Donald Trump less than a month ago, allows the issuance of payment stablecoins only by entities approved by federal or state-licensed regulators and establishes transparent rules for their circulation.
Despite the positive changes, Democratic Senator Elizabeth Warren criticized the GENIUS Act, warning of a potential financial crisis related to its adoption. Investment firm Bernstein called the SEC’s initiative unprecedented, emphasizing that it could strengthen the U.S. position in transforming global financial systems.
The new rules are also part of a large-scale project, Project Crypto, being developed by the SEC based on recommendations from a working group under Trump. Its goal is to modernize market rules for transitioning financial infrastructure into a digital environment.
Currently, major stablecoin issuers, including Circle and Tether, have not provided comments regarding the updated SEC classification. It is worth noting that the market capitalization of the stablecoin sector has already exceeded $250 billion.