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SEC’s Corp Finance issues statement on stablecoins

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Photo: Peter Dazeley/Getty Images

SEC’s Corporation Finance Division says stablecoins are not securities, placing the cryptocurrencies beyond its purview.

The SEC has just said that stablecoins – for the most part – are not securities.

The determination comes in a statement from the agency’s Division of Corporate Finance issued, which means that these coins do not need to be registered with the commission. It applies to what are called “covered stablecoins.”