Biden Administration Wants Public Opinion on New Digital Asset Executive Order

The U.S. Treasury is seeking the public’s opinion on crypto as part of its mandate under President Biden’s digital assets executive order.

According to a new report by the Federal Register, the Secretary of the Treasury must submit a report on the implications of the development and adoption of crypto assets to the president.

In a notice published on July 8th, the Treasury Department asks the public what their attitudes are toward the adoption rates of crypto assets, the opportunities they could possess for investors and businesses, and the general risks they pose to the markets, traders, and those most vulnerable.

The Department asks commenters to identify drivers of the increased popularity of the nascent asset class and the conditions that can facilitate its mass adoption in the future.

They also ask commenters to provide feedback on the opportunities digital assets offer to consumers, investors and businesses.

The Treasury Department also wants to know how the public feels about the risks digital assets pose to the financial markets, traders, and businesses, as well as what could be done to mitigate those risks.

The regulatory agency is also interested to know if digital assets can increase underserved Americans’ access to financial services. The public can submit their formal comments until August 8th.

 

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