PANews reports on April 5th that according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has issued new regulations clearly stating that some stablecoins do not fall under the securities category and may be exempt from transaction reporting obligations.
Some analysts believe that the stablecoins covered by the SEC may not include Tether's stablecoins, as the related statement indicates that acceptable reserves for stablecoins do not include precious metals or other crypto assets, both of which are included in Tether's reserves. Additionally, the SEC requires that any token must be convertible to U.S. dollars at any time, but Tether's terms of service suggest there may be minimum amount conversion or delayed conversion situations.
