The Securities and Exchange Commission (#SEC ) of the USA has published a new temporary clarification regarding the accounting for cryptocurrencies, according to which some USD-pegged stablecoins may be considered cash equivalents. This was reported by Bloomberg citing updated guidance from the SEC.

The new guidance allows USD stablecoins to be classified as cash equivalents provided there is a guaranteed redemption mechanism and a stable peg to an asset, particularly fiat currency. This means that companies holding such assets can account for stablecoins similarly to cash — which significantly simplifies financial reporting.

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