U.S. Treasury Department officials met with executives from banks and other organizations to discuss the risks and benefits of stablecoins.
According to a report by Reuters, the Treasury Department held a meeting with financial services executives to discuss stablecoins. The news, which referred to three unnamed sources, mentioned the issues related to potential regulations.
Sources quoted Treasury officials as asking executives to consider whether stablecoins will need direct oversight if demand rises significantly, whether there will be problems when large numbers of people try to cash out stablecoins at the same time, and whether stablecoins should be backed by traditional assets. directed.
However, how stablecoins can be used, configured and whether there is an adequate regulatory framework to address security concerns was discussed.
The source said officials appeared to be gathering information, while not informing them of possible regulatory moves.
Treasury spokesman John Rizzo also confirmed the meeting. Rizzo noted that the department “meets a wide variety of stakeholders” while examining “the potential benefits and risks of stablecoins for users, markets or the financial system.”
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