STABLECOIN REGULATION FOR DUMMIES

On June 5, 2023, the SEC sued copyright for giving and offering BUSD – its US dollar-backed stablecoin – being an unregistered security. The SEC alleged that copyright improperly marketed and touted BUSD as being a income-producing instrument by promising interest payments to investors who just held BUSD over the Ethereum blockchain. copyright

Depending on the structural options of stablecoins, regulatory approaches akin to MMFs and e-dollars could implement. If a stablecoin is denominated within a financial device of account and is also redeemable into dollars upon demand, it ought to be thoroughly backed by perfectly Protected and liquid assets. If the issuer Evidently pledges redeemab