US Treasury Delivers Digital Asset Framework to Joe Biden

The US Treasury said it provided a framework for President Joe Biden, calling for international engagement and a cross-agency approach to digital assets.

What happened: In a Thursday press release, the Treasury said the framework called for an interagency approach to weighing the risks and benefits of digital assets. These include NFTs and cryptocurrencies such as Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD.

Treasury noted that the framework was delivered in accordance with instructions issued in Biden's Executive Order on Digital Assets.

See also: Biden signs crypto executive order: What does it mean for the market?

"The executive order also directs the administration to promote the development of digital asset technologies and central bank digital currencies (CBDCs) consistent with our values ​​and legal requirements," said declared the Treasury.

He also stressed the importance of "international cooperation between public authorities, the private sector and other stakeholders" to expand access to safe financial services.

Earlier this year, Treasury Secretary Janet Yellen said that cryptocurrencies now play an "important role" in the investment decisions of many Americans.

Price Action: According to data from Benzinga Pro, BTC was trading at $21,954 at press time, gaining 7.6% over 24 hours.

Photo via gabriel12 on Shutterstock

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