US SEC announces interim stablecoin accounting guidance..."Some considered as cash"

The U.S. Securities and Exchange Commission (SEC) has announced interim accounting guidance that includes provisions related to stablecoins (virtual assets whose value is pegged to fiat currency).

On the 4th (local time), Bloomberg News reported that the SEC issued interim accounting treatment guidance stating that some stablecoins may be classified as cash equivalents.

This measure was announced by the SEC while it is in the process of establishing accounting standards for virtual assets (cryptocurrencies). Specifically, the accounting guidance includes content that, among dollar-pegged stablecoins, those with clear redemption rights "may be considered cash assets."