The U.S. Securities and Exchange Commission (SEC) has issued new guidance allowing broker-dealers to apply a “2% haircut” on proprietary positions in certain stablecoins, a decision that aims to facilitate the integration of digital assets into traditional finance. SEC Commissioner Hester Peirce highlighted that this use of stablecoins could expand the range of activities available to brokers, as the move aligns stablecoin treatment closer to money market funds. This guidance is part of the SEC’s broader efforts, including a dedicated crypto task force and the upcoming implementation of the GENIUS Act, which creates a regulatory framework for stablecoins.
SEC allows broker-dealers to apply 2% haircut on stablecoins
