The Department of the Treasury is initiating a cryptocurrency awareness program. They are trying to put forward knowledge without stamping out new technology and new invention, announced an official of the Treasury.
Treasury’s Actions to Boost Crypto Awareness
The Department of the Treasury is embarking an initiative to put forward awareness about digital currency investing, Reuters broadcasted on Tuesday. Liang said that they are learning more about investors and families who are purchasing crypto assets and they recognize the elaborateness of how some of these assets can regulate. And Liang further added that this is a a certain field where additional education and awareness would really help. The Treasury’s Financial Literacy Education Commission will establish educational substances and govern outreach on digital assets. The Treasury’s education department includes 20 different government agencies, comprising the Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC),and the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve.
Liang in detail explained that the government conducts to educate the public about the works crypto assets and how they are different from other aspects of payment. The Treasury’s outreach will concentrate on investors with restricted access to mainstream monetary services. The undersecretary clarified that while there are threats related with crypto assets, the Treasury is familiar of their advantages like enhancing cross-border payments or bolstering financial inclusion. Liang explained they are just attempting to put forward awareness without attempting to stamp out new technology and recent innovation. President Joe Biden published an executive order on the legislation of crypto assets. The order instructs Treasury Secretary Janet Yellen to submit a report within 180 days on the future of money and payment systems, comprising the circumstances that drive broad adoption of digital assets, the White House said.
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