- Private sector participation is critical in the digital asset business.
- The US government is seeking public input on how to regulate cryptocurrencies.
- More than 10,000 comments are submitted to FinCEN by the crypto sector.
In recent years, digital assets have exploded in popularity. As the popularity of digital assets has grown, so has the interest from government regulators.
The US government is seeking public input on how to regulate cryptocurrencies. Back in 2018, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) had requested comments from the public on the use of digital assets.
Recent announcements on May 19, 2022, confirm that an executive order directs the secretary of commerce, in consultation with the secretary of state, the secretary of the treasury, and the heads of any other agencies, to establish a framework for enhancing U.S economic competitiveness in leveraging of digital asset technologies. On Thursday, the U.S. Commerce Department’s International Trade Administration issued a notice asking for public input for this framework.
According to industry experts, private sector participation is crit ...