The U.S. Treasury Department published a fact sheet Thursday outlining how it could work with foreign regulators to address the cryptocurrency sector.
The fact sheet, which is the first report published by the department as a result of U.S. President Joe Biden's executive order on crypto, said the framework "is intended to ensure that ... America's core democratic values are respected," pointing to consumer, investor and business protection, the safety of the global financial system and interoperability.
According to the sheet, the framework's policy objectives also include reducing the potential use of crypto for illicit finance, promoting access to financial services, supporting technological advancement and "reinforc[ing] U.S. leadership in the global financial system."
"The United States must continue to work with international partners on standards for the development of digital payment architectures and CBDCs (central bank digital currencies) to reduce payment inefficiencies...
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