{"id":430,"date":"2026-02-21T02:44:47","date_gmt":"2026-02-21T02:44:47","guid":{"rendered":"https:\/\/new.blockped.id\/?p=430"},"modified":"2026-03-09T09:44:13","modified_gmt":"2026-03-09T02:44:13","slug":"sec-secara-diam-diam-izinkan-broker-gunakan-stablecoin-sebagai-modal","status":"publish","type":"post","link":"https:\/\/new.blockped.id\/?p=430","title":{"rendered":"SEC Secara Diam-diam Izinkan Broker Gunakan Stablecoin sebagai Modal"},"content":{"rendered":"\n<p>Komisi Sekuritas dan Bursa AS (SEC) telah melakukan perubahan kebijakan yang signifikan namun tidak banyak digembar-gemborkan, yang dapat berdampak besar pada industri kripto. Melalui pembaruan kecil pada halaman Tanya Jawab (FAQ) di situs webnya mengenai &#8220;Tanggung Jawab Keuangan Broker-Dealer&#8221;, SEC kini mengizinkan perusahaan pialang untuk memperlakukan kepemilikan <em>stablecoin<\/em> mereka sebagai modal regulasi.<\/p>\n\n\n\n<p><strong>Perubahan Aturan &#8220;Haircut&#8221;<\/strong> Sebelumnya, memegang <em>stablecoin<\/em> (token yang dipatok ke dolar seperti USDC atau USDT) dianggap tidak memiliki nilai dalam perhitungan modal broker-dealer (dikenakan potongan atau &#8220;haircut&#8221; 100%). Dengan panduan baru ini, SEC menginstruksikan bahwa broker hanya perlu menerapkan potongan sebesar 2%. Artinya, 98% dari nilai kepemilikan <em>stablecoin<\/em> tersebut kini dapat dihitung sebagai modal kerja.<\/p>\n\n\n\n<p><strong>Dampak Bagi Industri<\/strong> Pergeseran ini menempatkan <em>stablecoin<\/em> pada posisi yang setara dengan produk keuangan lainnya, seperti dana pasar uang. Tonya Evans, seorang eksekutif di industri kripto, menyebut bahwa penalti finansial karena memegang <em>stablecoin<\/em> telah berakhir. Hal ini memudahkan perusahaan pialang terdaftar (mulai dari Robinhood hingga Goldman Sachs) untuk menyediakan likuiditas, membantu penyelesaian transaksi, dan terlibat dalam aktivitas bisnis yang lebih luas terkait sekuritas yang ditokenisasi.<\/p>\n\n\n\n<p>Komisaris SEC, Hester Peirce, mendukung langkah ini karena membuat broker-dealer lebih leluasa terlibat dalam aset kripto, meskipun ia juga berharap adanya perubahan aturan formal di masa depan.<\/p>\n\n\n\n<p><strong>Kelemahan Kebijakan Informal<\/strong> Meskipun disambut baik karena mengurangi ketidakpastian, perubahan ini dilakukan melalui panduan staf informal, bukan aturan resmi. Kelemahannya adalah kebijakan seperti ini sama mudahnya untuk dibatalkan seperti saat dikeluarkan, dan tidak memiliki kekuatan hukum sekuat peraturan resmi atau undang-undang dari Kongres.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Komisi Sekuritas dan Bursa AS (SEC) telah melakukan perubahan kebijakan yang signifikan namun tidak banyak digembar-gemborkan, yang dapat berdampak besar pada industri kripto. Melalui pembaruan kecil pada halaman Tanya Jawab [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-berita"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Secara Diam-diam Izinkan Broker Gunakan Stablecoin sebagai Modal - Blockped<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/new.blockped.id\/?p=430\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Secara Diam-diam Izinkan Broker Gunakan Stablecoin sebagai Modal - Blockped\" \/>\n<meta property=\"og:description\" content=\"Komisi Sekuritas dan Bursa AS (SEC) telah melakukan perubahan kebijakan yang signifikan namun tidak banyak digembar-gemborkan, yang dapat berdampak besar pada industri kripto. 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