Treasury Circulates Draft Rules on Stablecoin Reserve Transparency

A draft framework circulating among agency staff would standardise how dollar-pegged token issuers describe their reserves, replacing the patchwork of voluntary attestations that dominates the market today.

The document, described to Bitcoin Bounty Hunter by two people who have read it, would require monthly third-party attestation of reserve composition by instrument and maturity, plus same-day disclosure whenever an issuer restricts redemptions.

Industry response

Larger issuers have signalled cautious support, viewing standardised disclosure as a competitive advantage over offshore rivals. Smaller issuers argue the attestation cadence would impose fixed costs that scale poorly below a few billion dollars in circulation.