The US SEC issued temporary crypto accounting guidance: Some stablecoins can be treated as cash

The U.S. Securities and Exchange Commission (SEC) is moving forward with preliminary cryptocurrency accounting rules, issuing new staff guidance that clarifies that certain stablecoins can be treated as cash. Under the updated guidance, holdings of certain dollar-pegged stablecoins can be classified as cash equivalents if they have a guaranteed redemption right and their value is anchored to another asset.