The Securities and Exchange Commission (SEC) expected to head US stablecoin regulation and enforcement

United States regulatory bodies have reportedly agreed that the Securities and Exchange Commission will lead the U.S.’ efforts to regulate the stablecoin sector.

According to a Tuesday Bloomberg report citing anonymous sources “familiar with the matter,” the SEC has reached an agreement with other U.S. agencies to take the reins on proposing legislation and overseeing the stablecoin industry.

The sources add that the SEC’s newfound “significant authority” over the sector will be formally announced in the Treasury Department’s forthcoming stablecoin report that is scheduled to be published this week.

The report will also clarify the regulatory jurisdiction of the Commodity Futures Trading Commission and the Treasury Department with regard to stable tokens.

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