From Cointelegraph

April 4, 2025 5:41 PM:

The SEC released guidelines for stablecoins, defining “covered stablecoins” as non-securities backed 1:1 by USD. Industry leaders seek changes to share yield opportunities with holders. Issuers must not co-mingle assets or offer interest to comply. SEC’s criteria align with proposed legislation protecting USD as global reserve currency. Centralized stablecoin issuers back tokens with USD deposits and Treasury Bills, driving demand for USD and US debt. Tether is now the seventh-largest holder of US Treasuries. US Treasury Secretary aims to extend USD dominance through stablecoins. Regulating stablecoins is a top priority for the administration.

Read more at Cointelegraph: SEC lays out guidelines for stablecoins, excludes algorithmic tokens