{"id":64317,"date":"2022-07-13T10:22:30","date_gmt":"2022-07-13T07:22:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64317"},"modified":"2025-09-06T13:48:05","modified_gmt":"2025-09-06T10:48:05","slug":"u-s-treasury-seeks-comments-on-cryptocurrency-policy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-treasury-seeks-comments-on-cryptocurrency-policy\/","title":{"rendered":"U.S. Treasury seeks comments on cryptocurrency policy"},"content":{"rendered":"<p>The U.S. Department of the Treasury <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/jy0861\">requested<\/a> public comments on the potential benefits and risks associated with digital assets.<\/p>\n<p>The request <a href=\"https:\/\/www.federalregister.gov\/documents\/2022\/07\/08\/2022-14588\/ensuring-responsible-development-of-digital-assets-request-for-comment\">was published<\/a> on July 8 in accordance with <a href=\"https:\/\/u1f987.com\/en\/news\/biden-issues-executive-order-coordinating-federal-agencies-on-cryptocurrency-regulation\">the president&#8217;s executive order issued by President Joe Biden<\/a>. According to the latter, the Treasury should study the impact of cryptocurrencies on the financial system, economic growth and national security.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cFor consumers, digital assets may present potential benefits such as faster payments, as well as likely risks, including those related to fraud,\u201d said Nellie Liang, Deputy Secretary for Domestic Finance.<\/p>\n<\/blockquote>\n<p>The authors of the document stated that the main goals of U.S. policy on digital assets are:<\/p>\n<ul class=\"wp-block-list\">\n<li>protect consumers, investors and businesses in the country;<\/li>\n<li>protect the United States and global financial stability, and reduce systemic risks;<\/li>\n<li>reduce national security risks associated with illicit use of cryptocurrencies;<\/li>\n<li>support technological advancement and other measures.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe growth in the use of digital assets and differences between communities may also pose outsized financial risk to less-informed market participants or exacerbate inequality,\u201d the document states.<\/p>\n<\/blockquote>\n<p>The Treasury invited public comment on a number of questions. In particular, to indicate the reasons for the popularity of cryptocurrencies, to name the advantages of decentralized systems and to assess potential risks, including the loss of private keys and \u201cthe authenticity of digital assets\u201d.<\/p>\n<p>The agency will close the comment period on August 8, 2022.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"258\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-07-13-v-10.23.26-1024x258.png\" alt=\"U.S. Treasury seeks comment on cryptocurrency policy\" class=\"wp-image-178747\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-07-13-v-10.23.26-1024x258.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-07-13-v-10.23.26-300x75.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-07-13-v-10.23.26-768x193.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2022-07-13-v-10.23.26.png 1085w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: Federal Register.<\/figcaption><\/figure>\n<p>Earlier, the Fed Vice Chair <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">the Fed<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/fed-calls-for-tighter-regulation-of-the-cryptocurrency-industry\">called for tougher regulation<\/a> of the industry. She, however, did not see threats to financial stability given the relatively small size of the market and its weak link to the traditional economic system.<\/p>\n<p>In June 2022, Federal Reserve Chair Jerome Powell said that <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-jerome-powell-we-are-closely-watching-developments-in-the-cryptocurrency-market\">the agency is closely watching cryptocurrencies<\/a>. In his view, the industry has not yet had a meaningful impact on the macroeconomy.<\/p>\n<p>As Cardano founder Charles Hoskinson <a href=\"https:\/\/u1f987.com\/en\/news\/cardano-founder-urges-us-regulators-to-adopt-internet-style-approach-to-crypto-regulation\">proposed regulating cryptocurrencies<\/a> in the form of a public-private partnership modeled on the Internet during congressional hearings in the United States.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of the Treasury has requested public comments on the potential benefits and risks associated with digital assets.<\/p>\n","protected":false},"author":1,"featured_media":64318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,1490,26],"class_list":["post-64317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-us-treasury","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64317"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64317\/revisions"}],"predecessor-version":[{"id":64319,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64317\/revisions\/64319"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64318"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}