The US Treasury is seeking input on the risks and opportunities presented by digital assets as it seeks to prepare a report for US President Joe Biden on the implications of cryptocurrency-related developments.
The official consultation builds on an executive order signed by Biden in March that instructed government agencies to study cryptocurrencies and other products linked to digital assets, including digital currencies issued by central banks.
“For consumers, digital assets can present potential benefits, such as faster payments, as well as potential risks, including risks related to fraud and scams,” said Treasury Under Secretary for Domestic Finance, Nellie Liang, in a statement.
The cryptocurrency market has rapidly grown in popularity in recent years, despite concerns from regulators and some monetary policymakers who feel it lacks oversight, transparency and consumer protection.
The digital asset market has seen sharp declines in recent weeks, with a number of high-profile companies and tokens collapsing or refusing to allow customers to withdraw funds in a bid to stabilize.
The U.S. Treasury consultation is comprehensive, asking for input on a range of questions, including how companies are using cryptocurrencies, where consumers may not be sufficiently protected, and how the country’s poorest could benefit or face risks from more adoption. wide range of cryptocurrencies. The body will close the consultation on August 8.
Source: CNN Brasil
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