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US Ministry of Finance calls for public feedback on risk reduction in the crypto sector by financial institutions as part of the genius law
U.S. To participate in the discussion about crypto risks on the US Ministry of Finance, Treasury has recently asked the public to give feedback on how financial institutions can minimize risks related to cryptocurrencies. This initiative is part of the Genius Act, the aim of which is to regulate the handling of crypto assets and increase security in the financial sector. ...
US Ministry of Finance calls for public feedback on risk reduction in the crypto sector by financial institutions as part of the genius law
U.S. Treasury calls for participation in the discussion about crypto risks
The US Ministry of Finance recently asked the public to give feedback on how financial institutions can minimize risks related to cryptocurrencies. This initiative is part of the Genius Act, the aim of which is to regulate the handling of crypto assets and increase security in the financial sector.
Cryptocurrencies have become significantly more important in recent years, and their growth also takes significant risks for the financial markets and consumers. The Genius Act addresses these challenges and involves the common public in the process of risk reduction.
The ministry hopes to collect valuable information from the general public through the inclusion of suggestions and perspectives. In this context, financial institutions play a central role in this context, since they have to act in the best interest of their customers and at the same time have to meet regulatory requirements.
Future guidelines could aim to create safer framework conditions for dealing with cryptocurrencies and to identify and reduce potential dangers. Feedback from the public is considered the decisive part of this process and is intended to help develop effective solutions that meet the challenges in the crypto range.
The opportunity to actively participate in this discussion offers citizens, companies and other interest groups the opportunity to influence the future regulation of cryptocurrencies. Both the advantages and the risks of the digital currencies must be considered.
Overall, this initiative of the U.S. Treasury that dealing with crypto risks is taken seriously and that a structured approach to create a safe and stable financial environment is sought.