The US Monetary Authority allows public banks to insure Stablecoin issuers.

The US Treasury Department issued a statement on Monday announcing that domestic banks will offer special bonuses for fixed coins.

The new guidelines "indicate that domestic banks may hold strong coins to help their customers."

Meanwhile, currency analyst Brian Brooks said stablecoins have become an integral part of many banking operations. dollar."

However, this guide clearly states that this plan only applies to stable funds linked to fiat profit and supports 1:1. This means that Saga or another version of Libra will not work.

Tether (USDT) is an example of a name-based stablecoin pegged to the US dollar using the New York Reserve. The ongoing controversy over Tether, however, has led to these resources being used to cover the costs of sister exchange Bitfinex.

The OCC has been particularly aggressive in expanding the role of cryptocurrencies in US banks since Brian Brooks, a former Coinbase official, became OCC chairman in March. In July, the OCC made a similar decision, acknowledging that financial institutions can provide crypto asset monitoring services.