美 SEC 企业财务部门:完全储备、流动性强、由美元支持的稳定币不是证券

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Foresight News 消息,美国证券交易委员会(SEC)企业财务部门发布关于稳定币的指导意见。经综合权衡,该部门认为“完全储备、流动性强、由美元支持的稳定币(Covered Stablecoins)”根据“Reves 测试”不构成证券,理由如下:(1)销售方使用收益来资助储备,而买家不受其资金预期回报的激励;(2)稳定币的分发方式不鼓励投机或投资交易;(3)理性购买者通常会认为稳定币不是投资;(4)足额储备金可随时满足赎回需求,此乃稳定币的风险降低特征。简言之,发行与销售稳定币旨在促进商业或消费用途。 [查看更多]

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