SEC cuts payment stablecoin haircuts to 2%, boosting on‑chain settlement economics for broker‑dealers.
Summary
- New SEC FAQ says staff “would not object” if broker‑dealers apply a 2% capital haircut to qualifying payment stablecoins, versus the prior de facto 100% deduction.
- The shift follows the GENIUS Act, aligning compliant stablecoins with conservative money market funds and enabling $100 of tokens to count as $98 toward net capital.
- BTC trades near $68.1k on ~$33B volume, ETH around $1.96k on ~$18B, while USDT holds $1 with roughly $57B–$68B in 24h turnover as the largest dollar‑linked stablecoin.
The Securities and Exchange…
