StableCoins Are Securities And They Should Be Regulated Says SEC As Coinbase Debunk The Claim

StableCoins are not securities as the US securities and the stock exchange commission alleged that BUSD and Paxos stable coins is a security and it should be registered under the federal securities laws.

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In a response by coinbase which argues that stable coins are not securities which they say it’s of benefit to the United States if the fiat which is the US dollar is the most trusted which you talk about reserve asset for stable coins.

We can only do this if we foster the development of stablecoins within our borders. Imposing securities law onto stablecoins through enforcement instead of guidance or dialogue with the industry will simply push innovation offshore and weaken our global role.

Remember, stablecoins are already regulated. Paxos is regulated as a NY Trust Company by [the New York Department of Financial Services]. USDC [USD Coin] is regulated as a stored value instrument, just the same as a simple money order is, under US state money transmitter laws.

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LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
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