The US Treasury Department asks the public to comment on the potential risks of digital assets
The US Treasury Department is asking the public for comments on how to manage the potential risks of crypto assets.
In a recently released document, the Ministry of Finance asked the general public how they feel about the illegal use of crypto assets and what steps can be taken to limit them.
The ministry said its goal is to better understand the public's view of the risks associated with crypto assets and take appropriate action.
“Through this Request for Comment (RFC), the Treasury is asking for public input to understand the public's view of emerging risks, as well as the actions taken by the U.S. government. States and the Ministry of Finance should take to minimize risks.
Through this RFC, the Treasury also seeks to better understand how public-private partnerships can enhance efforts to address risk. "
Some of the questions include asking the public if they think future crypto technologies will create new risks instead of mitigating them, what regulatory changes they think will work best for stamping out illegal crypto activities, financial risks associated with non-fungible tokens (what are NFTs) and decentralized finance (DeFi) platforms and perspectives to their general about cryptocurrency mixing services.
One question asked
“What additional steps should the US government consider addressing the illicit financial risks associated with mixers and other anonymity-enhancing technologies?”
Last month, the Treasury Department's Office of Foreign Assets Control (OFAC) blacklisted the Tornado Cash cryptocurrency mixer after deeming the service a national security threat.
According to OFAC, more than $7 billion has been laundered through the service since its inception in 2019.
The move has sparked outrage in the crypto community, as many well-known figures, including Cardano (ADA) co-creator Charles Hoskinson, have spoken out against the sanctions saying it violates the first amendment.
Sep 22, 2022