The US Treasury Department is seeking public comment on the possible illicit finance and national security risks posed by the use of digital assets, as part of the agency’s mandate under President Biden’s March executive order to study the development of cryptocurrency.
The request for comment, issued Monday, also asks the public for suggestions to mitigate these risks by the deadline of Nov. 3.
The Treasury, in a version of the request-for-comment document on the Federal Register website, said crypto has been used in sophisticated cybercrime-related financial networks and activity, including through ransomware. The growing use of digital assets has increased the risk of crimes such as money laundering, terrorist financing, fraud, thefts and corruption, according to the document.
Brian Nelson, the Treasury under secretary for terrorism and financial