PANews reported on April 5 that according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) issued new regulations clarifying that some stablecoins do not fall into the category of securities and are exempt from transaction reporting obligations.

Some analysts believe that the stablecoins covered by the SEC may not include Tether’s stablecoins, because the relevant statement states that the acceptable reserves for stablecoins do not include precious metals or other crypto assets, both of which are included in Tether’s reserves. In addition, the SEC also requires that any token must be convertible into US dollars at any time, but Tether’s terms of service imply that there may be a minimum amount of exchange or delayed exchange.