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SEC’s Senior Advisor for Digital Assets Valerie Szczepanik: Stablecoins May Be Securities

“Senior advisor for digital assets at the United States Securities and Exchanges Commission (SEC) Valerie Szczepanik reportedly noted that stablecoins could experience issues under current securities laws” writes Adrian Zmudzinski for cointelegraph.com. When Szczepanik reportedly made the statement concerning securities at Austin’s SXSW conference on March 15, she also broke stablecoins into three categories.Szczepanik, also known as the Crypto Czar, was appointed to the new position of associate director of the Division of Corporation Finance and senior advisor for Digital Assets and Innovation for Division Director Bill Hinman in June of 2018. More recently, SEC’s chairman Jay Clayton seemed to confirm that Ethereum (ETH) and cryptocurrencies like it are not securities under U.S. law.One kind of stablecoins are the ones tied to real assets such as gold or real estate, and another type are the ones tied to fiat currency held in reserves, in Szczepanik’s classification.
 
Source: cointelegraph.com



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