The U.S. SEC issues temporary accounting guidance for stablecoins.

On August 5, Bloomberg reported that the SEC is further advancing based on preliminary crypto accounting rules and has released new staff guidance indicating that certain stablecoins can be treated as cash equivalents. This temporary guidance comes as the SEC is developing regulatory rules for crypto securities. Under the leadership of SEC Chairman Paul Atkins, the commission has begun to gradually roll back some stricter policies, including previous accounting guidance that was considered to hinder traditional lending institutions from entering the crypto market. According to the latest guidance, holding certain stablecoins pegged to the US dollar may be classified as cash equivalents if these stablecoins have guaranteed redemption rights and their value is anchored to another class of assets.