Treasury officials are understood to have met with financial executives this week to discuss potential stable currency regulation. Us financial regulators say they are trying to understand the risks and opportunities that cryptocurrencies pose to the traditional US financial system and plan to release a series of reports in the coming months. This week's meeting shows that the relevant work is accelerating.
Us officials are reported to have asked at a meeting this week whether direct regulation is needed if stable currencies become very popular. They also discussed how regulators should try to reduce the risk that too many people exchange stable currencies at the same time, and whether the main stable currencies should be supported by traditional assets. The information gathered at this week's meeting could help the Treasury prepare a comprehensive report on stable currencies in the coming months.