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US Treasury Opens Door for Public Comments on Biden’s Crypto Order
The U.S. agency will accept comment letters by Aug. 8 on the president’s March order to establish a regulatory regime for crypto.
The U.S. public can now weigh in on President Joe Biden’s order to come up with new rules for the cryptocurrency industry.
In March, the president ordered several U.S. agencies to start work on a comprehensive system to oversee digital assets, and the Treasury Department is now inviting the public to submit comments on what they think it should look like. Letters must be received by Aug. 8, according to the Tuesday announcement.
STORY CONTINUES BELOW
“The Treasury Department is seeking to benefit from the expertise of the American people and market participants by soliciting public comment as we engage in this important work,” said Nellie Liang, the Treasury’s undersecretary for domestic finance, in a statement.
Treasury Secretary Janet Yellen must submit a report to the White House in September in response to the president’s order, outlining the implications of the growth of crypto in the U.S. and what she recommends be done about it.
Read more: Digital Dollar Could Be Good for Financial Stability, U.S. Federal Researchers Say
Jesse Hamilton
Jesse Hamilton is CoinDesk's deputy managing editor on the Global Policy and Regulation team, based in Washington, D.C. Before joining CoinDesk in 2022, he worked for more than a decade covering Wall Street regulation at Bloomberg News and Businessweek, writing about the early whisperings among federal agencies trying to decide what to do about crypto. He’s won several national honors in his reporting career, including from his time as a war correspondent in Iraq and as a police reporter for newspapers. Jesse is a graduate of Western Washington University, where he studied journalism and history. He has no crypto holdings.
