# US stablecoin regulatory and accounting developments > Developing situation record from CLSTR: https://clstr.news/situations/us-stablecoin-regulatory-and-accounting-developments > Updated: 2026-10-29T20:35:34.000Z. Sources: 3. Developments: 2. Regulatory and accounting bodies in the United States are evaluating the classification of stablecoins. The Financial Accounting Standards Board (FASB) proposed new guidance that could allow companies to classify certain stablecoins as cash equivalents. This proposal aims to increase transparency and reduce diversity in accounting practices by clarifying whether specific digital assets meet the definition of cash equivalents based on redemption rights. In a separate move, Circle, the issuer of USDC, submitted a formal request to the Securities and Exchange Commission (SEC). Circle is asking the regulator to recognize qualifying payment stablecoins as cash for payments and settlements. The company also requested that the SEC reduce the broker-dealer capital haircut for qualifying stablecoin positions from 2% to zero, arguing that dollar-pegged tokens should reflect their corresponding dollar valuation. ## Timeline ### 2026-10-29: Circle requests SEC recognize stablecoins as cash Circle has urged the SEC to recognize qualifying payment stablecoins as cash and to reduce broker-dealer capital haircuts from 2% to zero in proposed crypto fundraising rules. 3 sources. https://clstr.news/cluster/circle-requests-sec-recognize-stablecoins-as-cash ### 2026-10-12: FASB proposes rules to classify stablecoins as cash equivalents The FASB has proposed rules allowing qualifying stablecoins to be classified as cash equivalents, potentially easing corporate adoption and improving liquidity reporting for treasury operations. 4 sources. https://clstr.news/cluster/fasb-proposes-rules-to-classify-stablecoins-as-cash-equivalents --- Cite as: US stablecoin regulatory and accounting developments. CLSTR, https://clstr.news/situations/us-stablecoin-regulatory-and-accounting-developments