SEC Slashes Stablecoin Capital Penalty, Opening Door for Wall Street Adoption

[cryptobro]

The US Securities and Exchange Commission has issued new guidance allowing broker-dealers to apply just a 2% capital “haircut” to qualifying payment stablecoins — a dramatic shift from the previous 100% requirement. The move significantly lowers the capital burden on firms holding stablecoins for on-chain settlement, placing them on similar economic footing as traditional money market funds.

SEC Chair Paul Atkins called the update a step toward “unlocking access to on-chain markets,” while Commissioner Hester Peirce emphasized that strict 1:1 reserve requirements under the newly passed GENIUS Act justify the lighter treatment. With clearer rules and lower capital penalties, compliant stablecoins like USDC could see accelerated adoption across traditional financial institutions.

[mendez]

This might be one of those policy changes people ignore today and call obvious in five years.