The U.S. Treasury Department announced the launch of an initiative to educate about the risks of investing in crypto.
The Treasury’s Financial Literacy Education Commission will compile the educational content to inform the public about the way crypto assets function and the way they differ from other forms of payment.
Nellie Liang, Treasury undersecretary for domestic finance commented, “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”.
The treasury aims to reach out in particular to the people that have very limited access to mainstream financial services as revealed by Liang.
As digital assets grow in popularity, so does the risk to the financial system.
The initiative emphasizes the rising apprehensions among regulators that digital assets could pose a threat to the financial system as they see popularity in the mainstream.
US President Joe Biden might sign an executive order for cryptocurrency this week. The order will direct federal agencies to go through possible regulatory changes along with the crypto’s influence on national security and the economy.
