US Treasury Will Force Stablecoin Issuers to Guarantee Their Free Conversion to Fiat
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According to recommendations developed by the US Treasury Department for issuers of stablecoins, the holders of these assets should be able to convert them into the assets backing them for free, Bloomberg has reported citing sources.

Among other things, the recommendations cover issues such as how stablecoin transactions are processed and calculated and how market conditions affect this process.

It is worth noting the document has been developed due to the rapid growth of the sector's capitalization and with the possibility of tokens such as Facebook's Diem being issued in mind.

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The publication's sources have not ruled out the Financial Stability Oversight Council taking action due to the economic threats that stablecoins could pose, which could lead to even stricter regulation.

US Treasury officials have previously discussed the risks and benefits of stablecoins with representatives of the banking community and credit unions.

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