The U.S. Securities and Exchange Commission (SEC) has declared that most dollar-based stablecoins do not qualify as securities, thereby falling beyond its regulatory jurisdiction. This statement, issued by the SEC's Division of Corporation Finance, aligns with earlier declarations concerning memecoins and crypto mining. According to the SEC, transactions related to the minting and redeeming of certain stablecoins do not need registration under the Securities Act because they are intended for use in commerce rather than as investments. This revelation comes amid a wider legislative effort, as Congress is considering new standards for stablecoins, with recent favorable votes in the House Financial Services Committee and the Senate. SEC Commissioner Hester Peirce, advocating for clarity in the crypto space, emphasized the importance of these preliminary announcements despite their non-binding nature. The regulatory landscape is evolving rapidly, particularly with notable shifts at the SEC under new leadership, which has already led to the dismissal of several enforcement cases against crypto entities. Further developments, including potential confirmation of new SEC leadership, may influence the ongoing discussions.

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