OUSDIs Open USD (OUSD) a security?
#85 by market cap · Last updated Oct 19, 2026 (evidence re-checked)At a glance
Unclear- ConfidenceLowLowHigh
- US exchange accessCoinbase custody only
- Regulator (if enacted)SEC or CFTC (undecided)
- Evidence4 sources · 2 official
Is Open USD (OUSD) a security?
Unclear. A dollar stablecoin whose issuer and licensing we could not verify from an issuer or regulator source, so we don't apply the payment-stablecoin rule.
There's no official US classification yet, so treatment could go either way. Watch for SEC or CFTC statements and exchange listing changes. Pro alerts flag these for you.
What should I do if my token is "unclear"? →
Why this status
- R5: a dollar stablecoin whose issuer and licensing we could not verify from an issuer or regulator source, so we don't apply the payment-stablecoin rule.
Decentralisation ("mature blockchain" test): Not independently assessed. No reliable, sourced data on control or supply concentration was gathered for this review.
Evidence (4 sources)
2 official
- BackgroundThird-partyOct 19, 2026 · CoinGecko
Project description: Open USD (OUSD) is the first stablecoin designed as open infrastructure.
CoinGecko: Open USD ↗ - Exchange listingThird-partyAbsent / not foundOct 19, 2026 · Coinbase
OUSD does not appear on Coinbase's 'US (incl. NY) Trading Assets' list (it is on Coinbase's custody list).
Coinbase Digital Asset Disclosures: 'US (incl. NY) Trading Assets' list ↗ - RegulatorOfficial sourceAbsent / not foundMar 23, 2026 · Federal Register (SEC & CFTC)
OUSD is not among the SEC's named examples of digital commodities in the March 2026 interpretation.
SEC interpretation (with CFTC guidance): Application of the Federal Securities Laws to Certain Types of Crypto Assets, Release 33-11412 ↗ - RegulatorOfficial sourceMar 23, 2026 · Federal Register (SEC & CFTC)
SEC interpretation: stablecoins other than permitted payment stablecoins may be securities depending on facts and circumstances.
SEC interpretation (with CFTC guidance): Application of the Federal Securities Laws to Certain Types of Crypto Assets, Release 33-11412 ↗
Rules by country
Unclear (ClarityCheck estimate, low confidence). The CLARITY Act is not law, so today the SEC's and CFTC's existing frameworks apply.
Not found in ESMA's interim MiCA register of e-money token issuers (checked Oct 19, 2026). Under MiCA, EU platforms restricted non-compliant stablecoins for EEA users in 2024–25. See the delisting tracker. ESMA register ↗
The UK's new FCA cryptoasset regime starts on Oct 25, 2027. Firms can apply from Sept 30, 2026 until Feb 28, 2027. There's no token-by-token classification list; the rules apply to the firms that offer the token. FCA ↗
OUSD questions
Is Open USD (OUSD) a security?
Unclear. A dollar stablecoin whose issuer and licensing we could not verify from an issuer or regulator source, so we don't apply the payment-stablecoin rule. No court or regulator has classified it, so we don't guess. Not legal advice.
Can I buy OUSD on US exchanges?
US access: Coinbase custody only. Availability can differ by state and by exchange. See our exchange safety checker.
What would the CLARITY Act change for OUSD?
There's no official US classification yet, so treatment could go either way. Watch for SEC or CFTC statements and exchange listing changes. Pro alerts flag these for you.
How reliable is this OUSD status?
Confidence is Low. It comes from fixed rules applied to 4 cited sources (checked Oct 19, 2026), not from opinion. Statuses can change as courts, regulators and Congress act.
Change log
3 entries
- Status reviewEvidence-based review: status set to 'Unclear' (Low confidence) using ClarityCheck rules. Replaces earlier illustrative demo data.
- OUSD is not among the SEC's named examples of digital commodities in the March 2026 interpretation. Source ↗
- SEC interpretation: stablecoins other than permitted payment stablecoins may be securities depending on facts and circumstances. Source ↗
Snapshot Oct 19, 2026 · Prices by CoinGecko