U.S Treasury Asks For Public Opinion On Crypto Regulations

U.S Treasury asks for public opinion on Crypto regulations.

The United States Department of The Treasury has published a request for comment asking for members of the public to take part in answering a number of their questions relating to digital assets like cryptocurrencies and crypto regulations.

Questions For The Public

The “request for comment”, which was published on Monday September 19th, is made up of around 23 questions about “digital-asset-related illicit finance and national security risks as well as the publicly released action plan to mitigate the risks”.

The U.S Treasury explained, “The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption.

These illicit activities highlight the need for ongoing scrutiny of the use of digital assets, the extent to which technological innovation may impact such activities, and exploration of opportunities to mitigate these risks through regulation, supervision, public-private engagement, oversight, and law enforcement.

Questions for the public to answer in the document ranged in topics, all the way from asking about what risks crypto may pose, how crypto might be used in illicit finance, as well as what the government could do to prevent crypto scams and crime and how the government has done so far in preventing these.

Government’s Move In Making Regulations

The publishing of this document comes only days after The White House released their initial framework for regulating digital assets. Along with this, the FTC and SEC have also been making big moves in creating more regulations for crypto. 

All of which was done in accordance to President Joe Biden’s March’s executive order on “Ensuring Responsible Development of Digital Assets”.

Related: The Biden White House Release Its First-ever Framework For Regulating Crypto in US

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