U.S. Treasury calls for inter-agency approach on digital asset risks, benefits


(Reuters) – The U.S. Treasury stated on Thursday it had delivered “a framework” to President Joe Biden for worldwide engagement and an inter-agency approach to deal with the dangers and benefits of digital property.

The framework additionally directs the administration to advertise growth of digital asset and central financial institution digital currencies (CBDC) applied sciences.

The United States should proceed working with worldwide companions on requirements for the event of digital cost structure and CBDCs, in response to the Treasury.

“Uneven regulation, supervision, and compliance throughout jurisdictions creates alternatives for arbitrage and raises dangers to monetary stability and the safety of shoppers, traders, companies, and markets,” the Treasury stated in a press release posted to its web site. (https://bit.ly/3P8jIHr)

The Treaury additionally stated it’ll proceed to work with varied organisations, together with the G7, G20, and the International Monetary Fund.

(Reporting by Juby Babu in Bengaluru; Editing by Kenneth Maxwell)

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