Treasury Asks For Public Input To Shape Crypto Regulations—Including NFTs And DeFi - Decrypt

Treasury Asks For Public Input To Shape Crypto Regulations—Including NFTs And DeFi – Decrypt

The U.S. Treasury today invited the public to comment on how digital assets are being used in crime—and what the government can do about it. 

Related to President Joe Biden’s March executive order to regulate the cryptocurrency industry, Monday’s request for comment aims to mitigate the risks associated with digital assets. 

It lists 23 questions touching on a number of topics, including the risks posed by NFTs (tokens used to represent ownership over digital items) and what the government can do to prevent crime related to DeFi—the world of decentralized, non-custodial trading, lending, and borrowing. 

“The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption,” the Treasury’s document said.

“These 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 regul