US Treasury calls for public comment on digital asset policy, following Biden executive order

President Joe Biden's Executive Order on Crypto in March directed the Treasury Department to take the lead among other government agencies in the development of policy recommendations.
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The United States Department of Treasury has sought public comment on the opportunities and potential risks of digital assets pursuant to President Joe Biden's March Executive Order.

In an announcement on Tuesday, the U.S. Treasury said it is seeking public input that will “inform its work” in reporting to the president on the possible implications of digital assets on financial markets and payments infrastructure. Biden's executive order directed the Treasury Department to take the lead among other government agencies in developing policy recommendations aimed at mitigating systemic and consumer risks related to cryptocurrencies.
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“For consumers, digital assets can present potential benefits, such as faster payments, as well as potential risks, including the risk of fraud and scams,” said Nellie Liang, Undersecretary at the Treasury for national finances. "The Treasury Department seeks to benefit from the expertise of the American people and market participants by soliciting public comment as we engage in this important work."

In the request for comment published Friday in the Federal Register, the Treasury noted that lack of financial education when managing digital assets could be a factor in rolling out any related policies to vulnerable communities:
“The growing use of digital assets and differences between communities can also present disparate financial risks for less informed market participants or exacerbate inequalities. It is essential to ensure that digital assets do not present risks to consumers, investors or businesses, and to put in place protections as part of efforts to expand access to safe and affordable financial services for the most vulnerable populations.”

The public has until August 8 to submit comments to the Treasury on...

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US Treasury calls for public comment on digital asset policy, following Biden executive order

President Joe Biden's Executive Order on Crypto in March directed the Treasury Department to take the lead among other government agencies in the development of policy recommendations.

US Treasury calls for public comment on digital asset policy, following Biden's executive order

New

The United States Department of Treasury has sought public comment on the opportunities and potential risks of digital assets pursuant to President Joe Biden's March Executive Order.

In an announcement on Tuesday, the U.S. Treasury said it is seeking public input that will “inform its work” in reporting to the president on the possible implications of digital assets on financial markets and payments infrastructure. Biden's executive order directed the Treasury Department to take the lead among other government agencies in developing policy recommendations aimed at mitigating systemic and consumer risks related to cryptocurrencies.

“For consumers, digital assets can present potential benefits, such as faster payments, as well as potential risks, including the risk of fraud and scams,” said Nellie Liang, Undersecretary at the Treasury for national finances. "The Treasury Department seeks to benefit from the expertise of the American people and market participants by soliciting public comment as we engage in this important work."

In the request for comment published Friday in the Federal Register, the Treasury noted that lack of financial education when managing digital assets could be a factor in rolling out any related policies to vulnerable communities:

“The growing use of digital assets and differences between communities can also present disparate financial risks for less informed market participants or exacerbate inequalities. It is essential to ensure that digital assets do not present risks to consumers, investors or businesses, and to put in place protections as part of efforts to expand access to safe and affordable financial services for the most vulnerable populations.”

The public has until August 8 to submit comments to the Treasury on...