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ARTICLE · 21 APRIL 2025

Blockchain Bites: SEC provides bright-line guidance on ‘covered stablecoins', SEC greenlights options trading for spot Ether ETFs, Hyperliquid sets Jelly trades renewing code is law debate

Piper Alderman
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Steven Pettigrove, Jake Huang, Luke Higgins and Luke Misthos of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.

Rebalancing the scales? SEC provides bright-line guidance on 'covered stablecoins'

The Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) has released an unexpected and important statement clarifying its position on certain types of stablecoins, marking a significant development in the regulatory landscape for crypto assets and a dramatic shift away from the lack of guidance which occurred under the previous SEC leadership.

The statement declares that the offer and sale of 'covered stablecoins' will not be considered by the SEC to involve the offer and sale of securities under the US federal securities laws. This is dramatic shift from the past chair's view of stablecoins, who described them as little more than poker chips.

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