The Department of the Treasury is seeking public input on carrying out its mandate in the White House’s executive order (EO) to ensure the responsible development of digital assets, including cryptocurrencies.
Specifically, Treasury is seeking comment, data, and recommendations related to the implications of development and adoption of digital assets, and changes in the financial services market and payment infrastructures for consumers, investors, business, and for equitable growth.
The mandate stems from EO 14067, “Ensuring Responsible Development of Digital Assets,” which was issued by the White House in March and outlines principal U.S. policy objectives regarding digital assets. Section 5(b)(i) of the EO directs Treasury to report to the White House on the development and adoption of digital assets and changes in financial market and payment infrastructures.
Additionally, Treasury’s report will address conditions that could drive mass adoption of different types of digital assets and risks and opportunities that such growth might present to U.S. consumers, investors, and businesses – including focusing on how technological innovation may impact these efforts.
“Through this request for comment (RFC), Treasury is requesting input from the public that will inform its work in carrying out its mandate under section 5(b)(i) of the Executive Order,” said the RFC. “This RFC offers an opportunity for all interested parties to provide relevant input, data, and recommendations pertaining to the implications of development and adoption of digital assets and changes in financial market and payment infrastructures for United States consumers, investors, businesses, and for equitable economic growth.”
Commenters are encouraged to address the following areas, including:
- Adoption to date and mass adoption of digital assets;
- Opportunities for consumers, investors, and businesses;
- General risks in digital assets financial markets;
- Risks to consumers, investors and businesses; and
- The impact on the most vulnerable.