🚨NEW: The @SECGov Division of Corporation Finance has just put out guidance on stablecoins. The agency has minted a new term — ‘Covered Stablecoins’ which describe stablecoins that “maintain a stable value relative to the United States Dollar, on a one-for-one basis, can be redeemed for USD on a one-for-one basis (i.e., one stablecoin to one USD), and are backed by assets held in a reserve that are considered low-risk and readily liquid with a USD-value that meets or exceeds the redemption value of the stablecoins in circulation.” The division says that Covered Stablecoins are not offered or sold as investment contracts and therefore do not fall within the SEC’s jurisdiction. The statement does not cover algorithmic stablecoins, yield-bearing stablecoins, or stablecoins that track the value of assets other than USD. Full guidance here: https://www.sec.gov/newsroom/speeches-statements/statement-stablecoins-040425#:~:text=Therefore%2C%20on%20balance%2C%20it%20is,does%20not%20encourage%20trading%20for