U.S. Treasury Secretary Delivers Crypto Framework to Biden

The U.S. Department of the Treasury published a fact sheet titled "Framework for International Engagement on Digital Assets" Thursday.

It states that the Secretary of the Treasury has delivered to President Joe Biden "a framework for interagency engagement with foreign counterparts and in international fora as directed in the President's executive order on Ensuring Responsible Development of Digital Assets." Biden's executive order on crypto regulation was issued on March 9.

The framework calls for the U.S. and its foreign allies to collaborate to create international standards for regulating crypto assets. 

The Treasury described:

"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."