SEC May Oppose FTX’s Debt Repayment in Stablecoins

SEC's Potential Opposition to FTX's Repayment Plan

The U.S. Securities and Exchange Commission (SEC) has announced that it might oppose the proposed plan by the bankrupt cryptocurrency exchange FTX to repay its creditors using stablecoins. These are digital currencies that are typically pegged to a stable asset like the U.S. dollar, aiming to minimize price fluctuations often seen in other cryptocurrencies.