Weekly Roundup 02/17/23 (BUSD Wells notice, Howey vs Reves, the SEC’s custody guidance) (EP.397)
On The Brink with Castle Island
FIAB-AC Stablecoins as Securities
The SEC is considering whether FIAB-AC stablecoins are securities. The one prong that stable coins don't satisfy is the expectation of profit. Tether's AUM grew tremendously because it was perceived as less risky than Circle or Paxos.
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