Analysis: Tether stablecoin may not belong to the category of stablecoins compliant with the U.S. SEC

According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has issued new rules clarifying that certain stablecoins are not within the scope of securities and can be exempted from transaction reporting obligations. Some analysts believe that the stablecoins covered by the new SEC regulations may not include those issued by Tether, as the SEC pointed out that acceptable reserves for stablecoins do not include precious metals or other crypto assets, both of which are included in Tether's reserves. In addition, the SEC also requires any token to be convertible into dollars at any time, but Tether's terms of service imply there may be a minimum amount conversion or delayed conversion situation.