A Treasury Department request for comment on the implications of development and adoption of digital assets and changes in financial market and payment infrastructures is slated for publication Friday in the Federal Register. Comments are due Aug. 8.
The request follows remarks the same week by Treasury Secretary Janet Yellen before a group of regulators on the “urgent need” to ensure stable coin arrangements are subject to a federal framework on a “consistent and comprehensive basis.” It is being issued under a March 9 executive order (No. 14067) titled “Ensuring Responsible Development of Digital Assets,” which outlines principal U.S. policy objectives with respect to digital assets.
“Treasury welcomes input on any matter that commenters believe is relevant to Treasury’s development of the report on the implications of developments and adoption of digital assets and changes in financial market and payment infrastructures for United States consumers, investors, businesses, and for equitable economic growth as directed by Section 5(b)(i) of the Executive Order,” the notice states.
The department asks that commenters, to the extent possible, cite any public data related to or that support their responses; and if data are non-public, that they describe such data to the extent permissible.
Numerous matters highlighted for comment are grouped under the following areas:
- digital assets adoption to date and mass adoption;
- opportunities for consumers, investors, and businesses;
- general risks in digital assets financial markets;
- risks to consumers, investors, and businesses;
- impact on the most vulnerable.