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SEC Declares USDT, USDC, and Other Covered Stablecoins Not Securities

The U.S. Securities and Exchange Commission (SEC) has issued a statement clarifying that certain types of stablecoins, referred to as `Covered Stablecoins,` such as USDT and USDC, are not considered securities. These stablecoins are designed to maintain a stable value relative to the U.S. dollar on a one-for-one basis and can be redeemed for USD at the same rate. The SEC`s Division of Corporation Finance stated that the process of minting and redeeming these stablecoins, which are backed by low-risk and readily liquid assets, does not require registration with the Commission under the Securities Act. The SEC`s statement specifically addresses stablecoins like USDT and USDC, which are marketed for use in commerce, as a means of payment, money transmission, and value storage, rather than as investments. This clarification aims to provide regulatory clarity to the stablecoin market, which has been a topic of significant interest and debate in recent weeks. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io BitcoinSistemi

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Financial Firm Republic Plans To Acquire Crypto and Tokenized Securities Trading Platform INX for $60,000,000

The global financial firm Republic is planning on purchasing a crypto and tokenized securities trading platform for tens of millions of dollars. According to a new press release , Republic – founded in 2016 and backed by banking giant Morgan Stanley – plans on purchasing real-world asset tokenization platform INX (INXDF) for up to $60 million. The terms of the deal would have Republic purchase all outstanding public shares of INX for approximately $54.8 million, though the finalized deal could be worth up to $60 million. The press release says Republic was interested in acquiring INX because it allows the firm, which was already a shareholder of INX, to fully immerse itself in the world of digital assets by providing blockchain-based decentralized finance (DeFi) and tokenization services. As stated by Shy Datika, Founder and chief executive of INX, “Joining forces with Republic accelerates our vision of a fully regulated, tokenized economy that empowers investors globally. Together, we’re setting a new standard for how real-world assets and digital securities are issued, traded, and managed. By combining INX’s expertise in security token and cryptocurrency trading with Republic’s global investment reach, the merged entity will offer a full investment lifecycle in a regulated and scalable ecosystem – bridging traditional finance and blockchain technology.” According to the press release, Republic is purchasing the rest of INX’s outstanding shares at a staggering 457% premium, based on its latest closing price. INXDF is trading for $0.0634 at time of writing, a 20.75% decrease on the day. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Zaleman/Fotomay The post Financial Firm Republic Plans To Acquire Crypto and Tokenized Securities Trading Platform INX for $60,000,000 appeared first on The Daily Hodl . BitcoinSistemi