💵 Stablecoins Could Get “Cash Equivalent” Status
A major U.S. accounting standards proposal could give qualifying stablecoins treatment similar to cash equivalents.
To qualify, stablecoins would need:
• Liquid reserves at least equal to tokens in circulation
• Reserves disclosed annually
• The ability to redeem tokens for dollars on demand
If adopted, this could make stablecoins easier for businesses and institutions to hold and use within traditional financial systems.
The proposal is still open for public comments until Nov. 19.
#dyor #NFA✅
A major U.S. accounting standards proposal could give qualifying stablecoins treatment similar to cash equivalents.
To qualify, stablecoins would need:
• Liquid reserves at least equal to tokens in circulation
• Reserves disclosed annually
• The ability to redeem tokens for dollars on demand
If adopted, this could make stablecoins easier for businesses and institutions to hold and use within traditional financial systems.
The proposal is still open for public comments until Nov. 19.
#dyor #NFA✅