#關稅政策後市場分析

The U.S. Securities and Exchange Commission (SEC) announced new guidelines on April 4, stating that certain fiat-backed stablecoins will be classified as “non-securities,” thereby exempting them from transaction reporting requirements.

The updated classification marks a pivotal moment in the regulatory landscape for digital assets, offering much-needed clarity for stablecoin issuers and market participants.

According to the SEC notice, stablecoins that qualify as “covered stablecoins” must meet strict criteria: they must be fully backed by physical U.S. dollars or low-risk, short-term liquid instruments, and must be redeemable at a 1:1 ratio with the U.S. dollar.