USA sees economic threat in stablecoins

Holders of stablecoins should be able to freely convert tokens into the ones they back.assets. This requirement is contained in the recommendations being developed by the US Treasury for issuers of stable coins, writes Bloomberg.

Topics covered include how stablecoin transactions are processed and calculated, and how market conditions affect this process.

The document reflects efforts to mitigate risks,associated with the redemption of stablecoins and “banking panics,” which could destabilize the financial system as a whole. Officials are concerned about the rapid growth of the sector's capitalization and the possibility of issuing tokens like Facebook's Diem.

Sources did not rule out considerationsituation by the Financial Stability Oversight Council to determine whether there are economic threats from stablecoins. This could lead to even stricter regulation.

In September, U.S. Treasury officials reviewed with representatives of the banking community and credit unions the risks and benefits of stablecoins.

In July, a meeting of the Working Group onfinancial markets under the US President. Its participants discussed the rapid growth of stablecoins, their use as a means of payment, and potential risks to end users, the financial system, and national security.

Earlier, the head of the US Federal Reserve System, Jerome Powell, doubted the need for stablecoins. He compared stablecoins to money market funds and savings banks.

In August, the USDC-issuing consortium Center announced its intention to transfer token reserves into dollars and treasury bills.

Stablecoin issuer USDT Tether Limited indicated in a July report that the share of cash and bank deposits that can be withdrawn in two days or less was about 10%.

The company behind Pax Dollar (formerly Paxos Standard), Paxos, has confirmed that every USDP and BUSD issued is 100% backed by US dollars and its equivalents.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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