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9 Mar 2022
U.S. Treasury Introduces Financial Education Program on Cryptocurrencies
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The U.S. Treasury Department is planning to launch a financial awareness program on the risks and functions of cryptocurrencies, reported Cointelegraph. This comes as crypto investments continue to gain momentum and popularity in the today’s markets, as per a senior Treasury bureaucrat.
Nellie Liang, the Treasury Undersecretary for Domestic Finance, told Reuters, “We’re hearing more and more about investors and households who are purchasing crypto assets, and we recognize the complexity of how some of these assets operate.” She added that the decision by the Department’s Financial Literacy Education Commission to create detailed, informational texts and tools “would be helpful” for the general public.
Additionally, the undertaking is also aimed at alleviating worries among regulators regarding potential risks and uncertainties associated with crypto. Liang concluded, “We’re just trying to raise awareness without trying to stamp out new technology and new innovation.”
This comes as U.S. President Joe Biden prepares to sign an executive order sanctioning the government’s plan of action surrounding cryptocurrencies.
©Photo: Financial Times