US Treasury Department Solicits Public Comments On Cryptocurrency Regulation

The United States Department of Treasury is seeking public input on the “responsible development of digital assets” as well as public views on the national security and illicit financing dangers presented by digital assets.

The US Treasury has invited public feedback on “digital-asset-related illicit finance and national security risks as well as the publicly released action plan to mitigate the risks” relating to President Joe Biden’s March executive order on cryptocurrency. Comments can be submitted until Nov. 3 through the Federal eRulemaking Portal: www.regulations.gov, according to the Treasury.

“Treasury is requesting input from the public to understand the public’s view on the emerging risks as well as what actions the U.S. government and Treasury Department should take to mitigate the risks,” the department said.

The department solicits responses from the general public on a variety of themes, including illicit financing threats, anti-money-laundering laws and supervision, and central bank digital currencies (CBDCs).

As a follow-up to President Joe Biden’s sweeping crypto executive order in March, the White House issued the “first-ever comprehensive framework for responsible development of digital assets” this week, which contained suggestions from several government organizations.

On September 16, the White House released a regulatory framework for digital assets, prompting the request for public feedback. Many in the field, including crypto advocacy groups, chastised the administration for appearing to prioritize the unlawful use of cryptocurrency above its potential advantages.

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