Share this article
US Treasury to Say SEC Can Regulate Stablecoins: Report
SEC Chairman Gary Gensler wants more authority before Congress works out how best to regulate the cryptocurrencies.
Updated May 11, 2023, 3:49 p.m. Published Oct 25, 2021, 11:26 p.m.
The U.S. Securities and Exchange Commission (SEC) may have moved one step closer to achieving significant oversight on stablecoins.
- According to a Bloomberg article on Monday, which cited people familiar with the matter, a report expected this week from the U.S. Treasury Department and other agencies will indicate that the SEC has significant authority to regulate stablecoins, which are the cryptocurrencies pegged 1:1 to fiat currency.
- The report will also ask Congress to detail how stablecoins should be regulated in the same way bank deposits are.
- SEC Chairman Gary Gensler reportedly pushed for changes.
- Gensler is seeking to make clear the government will take a more active role in stablecoin regulation in the short term while awaiting legislative changes in the long term, according to the report.
Read more: Gary Gensler Says Crypto Is a ‘Wild West.’ Others See Pure Capitalism
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
State of Crypto: Wrapping Up the Month
Congress continues to make progress on crypto issues but things are moving slowly.
Top Stories
