US Treasury Talked About Stablecoin Risks

The US Treasury talked about stablecoin risks. On the other hand, the advantage of stablecoins was also discussed.

It was stated that US Treasury officials met with financial services executives this week to discuss the risks and advantages of stablecoins. According to the news of Reuters, which is based on three sources, which he did not name, evaluations were made on possible arrangements and related issues in meetings with banks and other institutions. Two of the sources quoted Treasury officials as asking whether there would be a need for direct oversight for stablecoins if demand increases significantly. It was also noted that the authorities received information on how regulators can limit potential risks if large numbers of people try to cash out their stablecoins at the same time, and whether the most important stablecoins should be backed by traditional assets. The meetings also discussed how stablecoins can be configured and used, and whether there is sufficient regulatory structure to address security concerns. Sources said the ministry only received information and did not comment on possible regulatory moves. Treasury spokesman John Rizzo confirmed to Reuters that the department is meeting with a wide range of stakeholders related to stablecoins.