US Treasury releases ‘fact sheet’ for international crypto regulation

What

The US Treasury Department has published a fact sheet detailing how it could work with foreign regulators to address the crypto sector

Why 

The first publication following US President Joe Biden’s executive order on digital assets, the fact sheet is intended to ensure ‘America’s core democratic values are respected,’ in reference to consumer, investor and business protection

What next

According to the fact sheet, to support this work, the Treasury Department said the US should hold engagements and other types of forums

The story 

The US Treasury has published a fact sheet detailing how the country could work with foreign regulators to address crypto regulation.

The publication marks the first report released from the department since US President Joe Biden’s executive order on digital assets earlier this year.

According to the report, the fact sheet is “intended to ensure that […] America’s core democratic values are respected”, which refers to consumers’ investor and business protection, the safety of the global financial system and interoperability.

“The United States must continue to work with international partners on standards for the development of digital payment architectures and CBDCs (central bank digital currencies) to reduce payment inefficiencies and ensure that any new payment systems are consistent with U.S. values and legal requirements,” the fact sheet said.

The document also references the nation’s intent to ensure a “coordinated message” is shared in its regional engagements to effectively promote the “adoption and implementation of international standards.”

To help support this message, the Treasury Department also recommended that the US should hold engagements and other types of forums. 

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