US Treasury Develops Framework For Path Towards International Crypto Regulations
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While the US authorities are intensifying work on developing crypto regulations, the country’s Department of Treasury has presented to President Joe Biden a framework to facilitate international cooperation on introducing such regulations and standards at the international level.
This is arguably a major development, and it may pave the way for intensified efforts by Washington to develop international regulations for the sector.
The framework was prepared in cooperation with “the Secretary of State, the Secretary of Commerce, the Administrator of the U.S. Agency for International Development (USAID), and the heads of other relevant agencies,” the department said in a statement.
The Treasury has developed its proposal in response to the president’s Executive Order on Ensuring Responsible Development of Digital Assets from March 9, which outlines an interagency approach to address the risks related to the use of cryptoassets, but also to harness their potential benefits.
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