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International Crypto Regulation ‘Framework’ Issued by US Treasury

Steve Miley trader
Updated 8 Jul 2022

Trade Crypto Here Your Capital Is At Risk

Key points:

  • US Treasury Publishes Crypto Fact Sheet
  • Aim Is To Protect Consumers, Investors And Businesses
  • Cryptocurrencies Rally (But Driven By Risk Asset Gains)

In a fact sheet published on Thursday the U.S Treasury Department set out a “framework” for regulating international cryptocurrency transactions. In this document the Treasury outlined how it could work together with foreign, financial regulators to build common standards for regulating cryptocurrencies in order to make it more difficult for bad actors to commit and profit from crimes.

US Treasury Publishes Crypto Fact Sheet

The U.S Treasury Department has published its “framework” for regulating international cryptocurrency transactions, outlining how it could work together with foreign, financial regulators to build common standards for regulating cryptocurrencies in order to make it more difficult for bad actors to commit and profit from crimes.

The Treasury Department is working to create a cryptocurrency regulatory framework in consultation with the Secretary of State, the Secretary of Commerce and the U.S. Agency for International Development (USAID) as well other agencies in a first step since March’s executive order on digital assets from President Biden.

crypto regulation framework

Also Read: How Will Cryptocurrency Perform During A Recession?

Aim Is To Protect Consumers, Investors And Businesses

In its news release the Treasury said, “Uneven regulation, supervision, and compliance across jurisdictions creates opportunities for arbitrage and raises risks to financial stability and the protection of consumers, investors, businesses, and markets.”

Further aims set out in the factsheet are to safeguard U.S. and global financial markets stability and alleviate systemic risk, plus to encourage access to safe and inexpensive financial services. In addition, the framework sets out to lessen illegal finance and national security threats generated by the abuse of digital assets.

Cryptocurrencies Rally (But Driven By Risk Asset Gains)

Cryptocurrencies, including sector leaders Bitcoin and Ethereum rallied to multi-week highs on Thursday and are setting up for their best weekly gains of 2022. However, this was more in reaction to solid advances by riskier assets, notably US and global stock indices, than in relation to the above news.

Both Bitcoin and Ethereum are challenging key levels we outlined in our post this week, Cryptocurrencies Basing, or Bear Market Pause? Is the market finally forming a bottom? The best we can say is that this is the best signal as yet in the bear market.

Steve has 29 years of financial market experience including 3 years at Credit Suisse and 15 years at Merril Lynch. Steve is the Academic Dean for The London School of Wealth Management and has won many awards from Technical Analyst Magazine.