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US Treasury Opens Door for Public Comments on Biden’s Crypto Order

·1 min read

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.

“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