SEC pushes Treasury trades into central clearing: what it means for stablecoin issuers
- —SEC deadlines: Dec. 31 for outright Treasury trades, June 30, 2027, for repos
- —SOFR-linked repo volumes grew from about $1 trillion in early 2022 to roughly $3 trillion
- —Clearinghouse netting can cut dealers' capital and balance-sheet needs
- —Participants must post margin and pay sponsoring members for access
Why it matters: Higher Treasury trading and margin costs could make it more expensive for stablecoin issuers to convert reserves into dollars.
Source: CryptoSlate