US Treasury Launching Cryptocurrency Awareness Program
The US Treasury Department is launching a campaign to raise public awareness about investing in cryptocurrencies as the traditional financial system moves away from the fringes.
A new program from the Treasury’s Financial Literacy Education Commission will help to educate the public about crypto assets and how they differ from other forms of payment.
Nellie Liang, the Treasury undersecretary for domestic finance, agreed that the Treasury would target populations with limited access to mainstream financial services.
“When we hear about investors and households investing in crypto assets, we recognize how some of these assets operate. I think this is an area in which more education (and) awareness could benefit. “, Liang said.
The initiative underscores concerns among regulators that crypto assets could pose a risk to the financial system as they grow in popularity.
According to University of Chicago research, around 14% of Americans invested in digital assets by 2021 when cryptocurrencies reached $3 trillion last year.
The Treasury’s Education Unit comprises 20 agencies, including the Securities and Exchange Commission.
Crypto education is timely as part of the Treasury crypto policy. In addition, Biden is preparing to sign a crypto executive order to allow legislative action on crypto regulation.