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RE: LeoThread 2025-05-30 12:16

in LeoFinance5 months ago

Stablecoin Oversight
The Act has also cleared the air around stablecoins, expressly stating that these are not securities, and the SEC, therefore, has no say on their regulation. Stablecoins like $USDC, $USDT, or PayPal USD will be regulated by ‘whichever regulator already oversees the firm involved.’

This means that if a stablecoin has been issued by a bank, bank regulators such as the FED or OCC will regulate it. Similarly, USDC will be regulated by the agency that oversees Circle, the issuer of $USDC.