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US Treasury issues framework addressing engagement on crypto with foreign regulators

The United States Department of the Treasury has delivered to President Joe Biden a framework on crypto for U.S. government agencies to work with their foreign counterparts.

The United States will explore opportunities for joint experimentation on digital assets technologies, market innovations and CBDCs, with this core set of allies and partners to increase our shared learning about ways to develop systems that meet our shared policy objectives

Announced in March, President Biden’s executive order aimed to establish a unified national policy on cryptocurrencies by requiring coordination and consolidation among U.S. government agencies and departments. In addition to Treasury’s recommendations on a regulatory framework, the order requests the Federal Reserve to research the development of a central bank digital currency. In June, as part of its obligation under the executive order, the Justice Department released a report on how it might “strengthen international law enforcement cooperation” over the illicit use of digital assets.

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