Berenberg: Stablecoin, DeFi could be next targets of SEC crackdown

Stablecoins and DeFi could be the next targets of the U.S. Securities and Exchange Commission's (SEC) crackdown on the cryptocurrency industry, Berenberg said in a research note on Tuesday. The investment bank said the SEC may now focus on bringing stablecoins, including tether (USDT) and USDC, two of the largest by market capitalization, and decentralized financial protocols into the regulatory ambit. The note said bitcoin (BTC), which the SEC has identified as a commodity rather than an unregistered security, could be the ultimate beneficiary of the crackdown.