**[Top Rating Agency Moody's Proposes Stablecoin Rating Framework Focused on Reserve Quality]** BlockBeats News, December 13, according to The Block, top credit rating agency Moody's is proposing a brand-new framework for evaluating stablecoins that are increasingly integrated into the traditional financial system. The agency stated on Friday: "We will conduct credit assessments of stablecoins' debt obligations and assign ratings. We recommend first evaluating each type of eligible asset in the stablecoin reserve pool and determining its credit quality based on the ratings of the assets and related counterparties." This framework implies that, in practice, two stablecoins claiming a 1:1 peg to the U.S. dollar may receive different ratings due to differences in their underlying reserve assets. Moody's further explained: "The second step of our analysis will consider market value factors, namely assessing the market value risk of each type of eligible reserve asset based on asset type and maturity. The analysis will yield a haircut ratio applicable to the value of each asset class. We further recommend incorporating elements such as operational risk, liquidity risk, and technological risk of stablecoins to ultimately form the rating conclusion." Moody's is now inviting market participants to submit feedback on the proposal by January 26, 2026.