7時間前
SEC allows 2% capital haircut for eligible payment stablecoins on February 21, 2026
On February 21, 2026, the SEC’s Division of Trading and Markets updated guidance to permit broker-dealers to apply a 2% capital haircut to proprietary positions in qualifying payment stablecoins under Exchange Act Rule 15c3-1. Many firms had treated these assets with a 100% haircut; the change, subject to strict reserve, transparency and regulatory criteria, may enhance liquidity.