Why U.S. Treasury asked for public comments on crypto regulation

The U.S. Department of Treasury has asked the public to submit comments on digital assets, including cryptocurrencies. The Treasury has invited comments on the illicit uses of crypto and the proposed action plan in particular. TheWell, the Treasury has asked people to suggest additional steps the authorities can execute to address illicit uses of cryptocurrency and decentralized finance and coordinate its Anti-Money Laundering and Combating the Financing of Terrorism policy.

It outlined the objectives of the government in regard to the regulation of digital assets. These objectives include consumer and business protection, safeguarding financial stability, mitigating illicit activities, reinforcing American financial leadership, promoting safe and affordable financial services, and supporting technologies for digital assets’ development.

It was after such widespread criticism that the Treasury decided to invite public comments on its approach.Read the best crypto stories of the day in less than 5 minutes

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