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Stablecoins May Be Recognized As Securities — Opinion

12:34 18/03/2019
SEC May Recognize Some Stablecoins As Securities

At the last SXSW conference in the US, Valerie Szczepanik, the SEC's senior crypto consultant, expressed the opinion that certain stablecoin types can be considered within the framework of securities laws, Decrypt reports.


The specialist classified stablecoins in three categories. To the first, she attributed stable tokens pegged to assets having real value in the form of precious metal or real estate objects. The second included stablecoins, secured by a reserve in the form of a fiat currency.


The third category causes most concerns — stablecoins, which use different financial mechanisms designed to support these tokens. These may be subject to securities laws and will be strictly reviewed by the regulatory organization.


The SEC representative stated that she is acquainted with such tokens. Their pricing was pegged to issuing, creating, or redeeming other types of digital assets. Besides, their value could be maintained by controlling the balance between supply and demand to keep the price within certain limits.


In the opinion of the official, stablecoins, the issuers of which control their price volatility or offer a controlled price and guaranteed income, can be considered securities.


In conclusion, Szczepanik urged all the organizers of crypto projects to seek advice from the Commission on the eve of their launch, and not after, when they have to apologize and pay fines.


Earlier, the SEC has confirmed once again that it does not consider ether security.

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