US Treasury plans to ask public if crypto-related regulations are ‘no longer fit for purpose’

The United States Department of the Treasury will be calling for comments from the public on digital assets, including their views on how regulations may address the illicit uses of crypto.

In a document set to be published in the Federal Register on Tuesday, the U.S. Treasury requested public comment on “digital-asset-related illicit finance and national security risks as well as the publicly released action plan to mitigate the risks” related to President Joe Biden’s executive order on crypto from March. The department invited the public to share their thoughts on the regulatory obligations the U.S. government had imposed that were “no longer fit for purpose as it relates to digital assets” as well as offer suggestions for alternative regulations addressing illicit finance risks and vulnerabilities.

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