SEC Advances Cryptocurrency Accounting Rules with New Stablecoin Guidance

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has issued new staff guidance indicating that certain stablecoins may be treated as cash equivalents. This development comes as the SEC continues to formulate regulatory rules for crypto securities. Under the leadership of SEC Chairman Paul Atkins, the commission is gradually reversing some stringent policies, including previous accounting guidance that was seen as a barrier for traditional lending institutions entering the crypto market. The latest guidance specifies that holding certain dollar-pegged stablecoins, which have guaranteed redemption rights and are anchored to another asset class, can be classified as cash equivalents. This move is part of the SEC's broader efforts to integrate cryptocurrency into existing financial frameworks.