US Treasury Holds Referendum on Biden’s Crypto Executive Order

The U.S. agency is currently in charge of defining what a “crypto broker” is under the provisions of the crypto tax law.

US Citizens Asked for Comments on Crypto

The U.S. Treasury Department is holding a referendum before submitting to the White House an official report on the impact of blockchain on the entire financial market and payment infrastructure, within the framework of a crypto executive order issued by President Joe Biden in March. The public comment portal opened on the Federal Register on July 8.

Citizens will have until Aug. 8 to submit comments to the Treasury on what they believe could potentially impact the widespread adoption and investment of crypto for individual investors and businesses. Potential risks include loss of private keys and authenticity of digital assets and NFT.

“The Treasury Department is seeking to benefit from the expertise of the American people and market participants by soliciting public comment on this important work,” Under Secretary for Domestic Finance at the Treasury Nellie Liang said.

Treasury Secretary Janet Yellen will submit a formal report to the White House in September, so the comment portal will be closed by Aug. 8. Last month, the Treasury also released its report in response to President Biden’s executive order. At the same time, the community breathed a sigh of relief when the Treasury decided to delay the tax refund on “crypto brokers,” a term that continues to be debated quite fiercely.

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