X @Wu Blockchain

The U.S. Securities and Exchange Commission (SEC) staff recently released a FAQ clarifying that they do not object to broker-dealers applying a 2% haircut to stablecoin holdings for purposes of net capital, meaning such holdings can count toward net capital requirements (e.g., $100 million in stablecoins can be counted as $98 million). Previously, broker-dealers were uncertain whether USD-pegged stablecoins required a 100% haircut, which prevented them from being included in net capital. https://t.co/mMh6qQ ...