The U.S. Securities and Exchange Commission (SEC) has issued interim regulatory guidance approving the classification of certain stablecoins as cash equivalents on corporate balance sheets. This permits U.S. dollar-pegged stablecoins maintained with a strict 1:1 peg and full cash or Treasury bill backing to be reported similarly to traditional cash holdings.
To qualify under the new guidelines, stablecoins must maintain a 1:1 value peg to the U.S. dollar, be fully backed by cash or highly liquid U.S. Treasury bills, and guarantee holders unconditional redemption rights to the underlying dollar value. The classification explicitly excludes algorithmic stablecoins or those offering yield-bearing features.
This development provides greater clarity for corporations considering the use of stablecoins in treasury operations or financial statements, enhancing legitimacy for compliant dollar tokens within traditional finance frameworks. These new accounting guidelines align with broader regulatory reforms, particularly the recently enacted GENIUS Act, which offers a clearer legal structure for regulated stablecoin issuers.
The SEC also referenced ongoing internal initiatives, such as ‘Project Crypto’, dedicated to resolving classification challenges and regulatory gaps for digital assets, signaling continued focus on the sector’s integration under its oversight.