US Treasury polls public on crypto

_{https://public-inspection.federalregister.gov/2022-20279.pdf}

The U.S. Treasury Department wants the public, including the crypto community, to weigh in on how digital assets might be used in illegal activities, and how the department should respond to this issue.

The Treasury Department published a “request for comment” Monday listing over 20 questions and asking the general public to explain whether it has “comprehensively defined the illicit financing risks” tied to crypto, and noting that various federal officials – including the Treasury Secretary, Attorney General, Homeland Security Secretary, Director of National Intelligence and Secretary of State – would create a “coordinated action plan” to address the possible national security risks posed by digital assets.

They think illicit activities highlight the need for ongoing scrutiny of the use of digital assets, the extent to which technological innovation may impact such activities, and exploration of opportunities to mitigate these risks through regulation, supervision, public private engagement, oversight, and law enforcement.”

The notice is tied to U.S. President Joe Biden’s executive order on crypto, it said, and references six “principal policy objectives,” which include
1. Consumer protection
2. Financial stability
3. Mitigating illicit finance
4. Promoting U.S. leadership in the global financial system
5. Supporting affordable financial services
6. Boosting responsible development of digital assets.

Questionaire

The questions range from asking about how crypto might be used in illicit finance and what risks they pose, to the role of anti-money laundering and countering the financing of terrorism rules.

The federal government has produced a number of reports already tied to the executive order, which was signed by Biden in March 2022. On Friday, the Treasury Department, Justice Department, White House Office of Science and Technology Policy and Commerce Departments all published a number of reports addressing various aspects of the cryptocurrency ecosystem in the U.S including CBDC.

The Department of Justice is looking at the question of what legal authorities the Federal Reserve might need to issue a central bank digital currency, though it has not submitted this analysis to the president yet.

No Answer Yet

Even U.S. govenment has not found the clear direction or answer to recent rapid and wide digital currency revolution.
This gathering of public opinions means U.S. govenment doesn't know yet what would be best and optimized direction to cover wide range of crypto issues while Crypto sector is being developed and changed fast. The changes mean not only technical development, but cultural and financial and daily life impacts.
It may be necessary to have two track strategy. U.S. govenment could build up solid but very basic basement while cross-board task force team may observe recent development and changes and then take fast reactions to any unexpected issues with long-term view. No need to do well at this moment.