US SEC updates employee guide to US dollar stablecoins accounting rules, some stablecoins can be regarded as "cash equivalents"

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has updated its staff guidelines on stablecoin accounting rules. The core content of the new guide includes: If a stablecoin pegged to the US dollar has a guaranteed redemption mechanism and its value stability is linked to another type of asset, it may be classified as a "cash equivalent." Earlier, the SEC said in April this year that the "covered" dollar stablecoins are not considered securities and confirmed that entities engaged in stablecoin issuance and redemption business do not need to register with the institution for such activities.
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