WASHINGTON—The Treasury Department has issued a request for comment (RFC) on the responsible development of digital assets, which fulfils its consultative requirement under President Biden's Executive Order on Ensuring Responsible Development of Digital Assets.
Through the RFC, the Treasury Department seeks public feedback on implications of the development and adoption of digital assets, such as a central bank digital currency (CBDC), and the changes that could be expected in the financial market and payment system, NAFCU noted in its analysis.
The RFC outlines several questions for consideration, including:
- What explains the level of current adoption of digital assets?
- What factors that would further facilitate mass adoption?
- What are the main opportunities for consumers, investors, and businesses from digital assets?
- What are the risks to consumers, investors and businesses?
- Can digital assets play a role in increasing these and other underserved Americans' access to safe, affordable, and reliable financial services, and if so, how?
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