February 23, 2026Signals

From 100% to 2%

You know what’s more powerful than a 1,000-page regulation? A two-page FAQ.On February 19, the SEC’s Division of Trading and Markets quietly dropped guidance that slashes the capital charge on stablecoins from 100% to 2% for broker-dealers. That’s the same haircut as money market funds. This makes stablecoins near-cash working capital and it might be the single most important regulatory shift for Wall Street in 2026.

By Marc Baumann, Sangam Bharti2 min read

You know what’s more powerful than a 1,000-page regulation? A two-page FAQ.

On February 19, the SEC’s Division of Trading and Markets quietly dropped guidance that slashes the capital charge on stablecoins from 100% to 2% for broker-dealers.

That’s the same haircut as money market funds. This makes stablecoins near-cash working capital and it might be the single most important regulatory shift for Wall Street in 2026. [RELEASE] [FAQs]

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