Certain stablecoins aren’t securities, SEC says in new guidance (Cointelegraph)

The U.S. Securities and Exchange Commission (SEC) published a notice that deems that “covered stablecoins” are considered “non-securities” and exempt from transaction reporting requirements. Covered stablecoins are those that don’t offer holders the right to receive any interest, profit, or other returns, don’t reflect any investment or other ownership interest in the stablecoin issuer or any other third party, don’t afford holders any governance rights with respect to the issuer or stablecoin, and/or don’t provide holders with any financial benefit or loss based on the issuer or any third party’s financial performance. These criteria are consistent with regulations stipulated in the Senate’s GENIUS stablecoin bill, and the House of Representatives’ Stable Act of 2025. [Read more at the SEC]

Euroclear joins HKMA’s Project Ensemble (Euroclear)

Euroclear has joined the Hong Kong Monetary Authority’s (HKMA) Project Ensemble, aimed at using wholesale central bank digital currency (CBDC) to settle interbank tokenized exposits and assets. As an Architecture Community member, Euroclear will contribute by developing a set of industry standards to support interoperability in Hong Kong’s tokenization ecosystem. [Read more at Euroclear]

And just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at john@kiffmeister.com.