US Treasury Delivers Digital Asset Framework To Joe Biden

The U.S. Treasury said it had delivered a framework to President Joe Biden, calling for international engagement and an inter-agency approach to digital assets.

What Happened: In a press release on Thursday, the Treasury said the framework called for an interagency approach to weighing the risks and benefits of digital assets. These include NFTs and cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).

The Treasury noted that the framework was delivered as per directions issued in Biden’s Executive Order on digital assets.

See Also: Biden Signs Crypto Executive Order: What Does It Mean For The Market?

“The Executive Order also directs the Administration to promote the development of digital asset and central bank digital currencies (CBDC) technologies consistent with our values and legal requirements,” stated the Treasury.

It also stressed the importance of “international cooperation among public authorities, the private sector, and other stakeholders” in expanding access to safe financial services.

Earlier this year, Treasury Secretary Janet Yellen said that cryptocurrencies are now playing a “significant role” in the investment decisions of lots of Americans.

Price Action: According to data from Benzinga Pro, BTC was trading at $21,954 at press time, gaining 7.6% over 24 hours.

Photo via gabriel12 on Shutterstock