On August 5, news from Bloomberg reported that the U.S. Securities and Exchange Commission (SEC) is further advancing based on preliminary accounting rules for crypto assets, releasing a new staff guidance indicating that certain stablecoins can be treated as cash equivalents. According to the latest guidance, holding certain stablecoins pegged to the dollar can be classified as cash equivalents if these stablecoins possess a guaranteed redemption right and are value-pegged to another class of assets. This temporary guidance comes as the SEC is developing regulatory rules for crypto securities. Under the leadership of SEC Chairman Paul Atkins, the commission has begun to gradually roll back some stricter policies, including previous accounting guidelines that were considered obstacles for traditional lending institutions entering the crypto market.